(Buffalo, NY) – F.X. Matt Brewing, makers of the Saranac line of beers and the 7th largest craft brewery in the U.S., is in talks to acquire a fellow New Yorker.

The Buffalo News broke the story on Wednesday morning that F.X. Matt has signed a letter of intent to purchase Flying Bison Brewing:

“Matt’s offer consists of $100,000 plus the assumption of several loans up to a stated amount, including a micro-loan from the Buffalo Economic Renaissance Corp.

In a letter obtained by The Buffalo News on Tuesday, Flying Bison President Tim Herzog urges investors to accept Matt’s offer on the grounds that it would keep the brewery in Buffalo and offer a potential cash return for investors. The letter also notes that Flying Bison “cannot continue to operate at the current price of its raw materials.”

A vote by investors is scheduled Feb. 11.”

Apparently, F.X. Matt has some excess capacity at its plant in Utica. According to a report in the Utica Observer-Dispatch, “Ideas talked about for the partnership include producing some Flying Bison beer in Utica if the brand becomes more popular and testing new Saranac beers at the Buffalo microbrewery instead of having to make larger quantities in Utica, Herzog said.”

The brewery has an official statement on its website downplaying the rumors but the Buffalo News report mentioned that there was even another firm trying to make a bid. There is definitely something afoot in Buffalo…

This is the second acquisition rumor to come up in the last two months. Long Trail Brewing ended up closing on a deal to purchase Otter Creek Brewing in December.