Sixpoint, one of New York’s longest-running craft breweries, was today acquired by Artisanal Brewing Ventures (ABV), a holding company formed after the merger of Victory Brewing and Southern Tier Brewing in 2016.

The acquisition was announced in an official press release, though the financial details of the deal are yet to be revealed.

As part of the partnership, Sixpoint will open a taproom and a brand new brewing facility in Brooklyn, which will serve as its “innovation brewery headquarters,” the press release says.

Not only that, ABV’s resources and “expertise in craft beer” will enable the New York brewery to improve productivity, realize growth potential, and focus on what makes Sixpoint successful. Namely, “brewing great beer.”

ABV says the partnership will give them a strong presence in the “fast-growing” New York City market.

“Adding Sixpoint to the ABV family is consistent with our strategy of working with successful regional brands that have great local market penetration, passionate fans, and opportunity to grow,” ABV’s CEO John Coleman said.

Eric Bachli, Sixpoint’s Brewmaster and Chief Product Officer, was equally excited about the deal.

“This is a world-class organization and they bring expertise in the business side of craft beer, so we can focus on our craft and on creating great-tasting, innovative beers,” Bachli said. “Sixpoint has so much opportunity ahead of it, and our partnership with ABV will help us reach our full potential.”