St. Louis-based Anheuser-Busch (A-B), the U.S. arm of Anheuser-Busch InBev, announced it has agreed to purchase Blue Point Brewing Co., a Long Island, N.Y.-based craft brewer that has more than 40 beers and sales concentrated along the East Coast. The move will bring additional resources to Blue Point's operations, allowing it to meet growing consumer demand for its brands, A-B says. Terms of the agreement were not disclosed.

Blue Point was founded by Mark Burford and Peter Cotter 15 years ago in Patchogue, N.Y., where the brewery will continue to operate. A-B also plans to invest in the brewery to grow its operational capabilities and enhance the consumer experience during the next few years, it says.

"As we welcome Blue Point into the Anheuser-Busch family of brands, we look forward to working with Mark and Peter to accelerate the growth of the Blue Point portfolio and expand to new markets while preserving the heritage and innovation of the brands," said Luiz Edmond, chief executive officer of A-B, in a statement. "With Anheuser-Busch’s strong beer credentials, we share a commitment to offering high-quality beers that excite consumers. Blue Point brands have a strong following and even more potential."

In 2013, Blue Point sold approximately 60,000 barrels, A-B reports. Fifty percent of the brand’s volume stems from its flagship brand, Toasted Lager, it says. It also sells Hoptical Illusion, Blueberry Ale and seasonal brands, among others, it adds.

"We are deeply grateful to our family of loyal employees and customers,” Cotter said in a statement. “Our success was made possible by the hard work of good people and good beer in Patchogue.”

Burford added in a statement, "Together, our talented brewing team and Anheuser-Busch will have the resources to create new and exciting beers and share our portfolio with even more beer lovers."

Both Cotter and Burford will continue to be instrumental in the success of the brands, the company says.

A-B's purchase of Blue Point is expected to close early in the second quarter of 2014.