Apr 25, 2005 - Molson Coors has acquired Ontario-based craft brewer Creemore Springs Brewery. With the renewed growth in sales of craft beer and competition from higher-priced beer such as Stella Artois, this appears to be an entry for Molson Coors into the high-end category.
http://www.realbeer.com/news/articles/news-002546.php
You're right. I did see this a while ago, but I wouldn't consider this one example as "buying out craft breweries."
Coors is actually doing quite well with its Blue Moon line, so much so that some beer drinkers actually think it's a beer from Belgium. But I guess fooling people isn't good enough. Now they too are moving into the craft beer industry.
I'm glad you reminded me about this since I've been thinking of doing a story about the big breweries buying into the craft industry. A-B recently purchased 35% of Goose Island in Chicago and there are a few more examples, especially by A-B. The reasoning behind this is quite interesting.