Los Angeles, CA — First Beverage Financial, the investment banking arm of First Beverage Group, today announced that it acted as the financial advisor to 10 Barrel Brewing in its planned sale to Anheuser-Busch. The two parties have entered into a purchase agreement and anticipate closing by the end of 2014. Terms of the agreement were not disclosed.10 Barrel, located in Bend, Oregon, is one of the country’s fastest-growing craft breweries. Founded by brothers Jeremy and Chris Cox and partner Garrett Wales, the brewery expects to sell 40,000 barrels of beer in 2014, nearly half of which will be of its flagship beer, Apocalypse IPA. 10 Barrel also produces Sinistor Black Ale and O.G. Wheat IPA.
“First Beverage did a great job of understanding our brand and it was clear that they had our best interests in mind throughout the process,” said co-founder Jeremy Cox. “They have a very talented team and we feel very fortunate to have worked with them on this project.” Added co-founder Chris Cox, “The First Beverage team was great to work with throughout this process. Not only are they the best bankers in the beverage space, they managed to keep the process fun, simple and they flat-out knew how to execute.”
“When we listened carefully to the founders’ goals of finding a partner that would allow them to focus on what they do best — making award-winning, innovative beers, and not managing other operational items — it was clear that Anheuser-Busch met all of these criteria,” said Townsend Ziebold, Managing Partner of First Beverage. “We had a lot of fun working with the founders and we are elated that First Beverage was able to tailor a solution that satisfied all of their objectives.”
“It was such a pleasure to work with the entrepreneur founders at 10 Barrel,” said Ryan Lake, Vice President of First Beverage. “This is one of the most exciting brands in craft beer and we think it has a very bright future ahead of it.”
First Beverage Group advises and invests in innovative and transformational beverage brands. Through our investment bank and private equity fund, we help beverage companies grow and stand out in a dynamic and competitive industry. We form true partnerships with our clients by leveraging both our financial and intellectual capital. Headquartered in Los Angeles with offices in Boston and New York, the First Beverage team is made up of entrepreneurial senior beverage executives with over 200 years of collective industry experience. For more information, please visit the company’s website, www.firstbeveragegroup.com.
About 10 Barrel Brewing Co.
10 Barrel Brewing Co. is a Bend, Ore., based brewery with one simple mindset ÔÇª brew beer, drink beer and have fun doing it. They currently distribute their brands in Oregon, Idaho and Washington. For more information, check out www.10barrel.com or get social at fb.com/10barrelbrewingco and @10barrelbrewing on Instagram and Twitter.
For more than 160 years, Anheuser-Busch and its world-class brewmasters have carried on a legacy of brewing America’s most-popular beers. Starting with the finest, all-natural ingredients sourced from Anheuser-Busch’s family of growers, every batch is hand-crafted using the same exacting standards and time-honored traditions passed down through generations of proud Anheuser-Busch brewmasters and employees. Best known for its fine American-style lagers, Budweiser and Bud Light, the company’s beers lead numerous beer segments and combined hold 47.2 percent share of the U.S. beer market. Anheuser-Busch is the U.S. arm of Anheuser-Busch InBev and operates 12 breweries, 17 distributorships and 23 agricultural and packaging facilities across the United States, representing a capital investment of more than $15.5 billion. Its flagship brewery remains in St. Louis, Mo., and is among the global company’s largest and most technologically capable breweries. Visitor and special beermaster tours are available at its St. Louis and four other Anheuser-Busch breweries. For more information, visit www.anheuser-busch.com.