Pike Brewing owner the Seattle Hospitality Group (SHG) has reached a “definitive agreement” to acquire a “controlling interest” in Fremont Brewing, the company announced today.
Financial terms of the deal were not disclosed. The transaction is expected to close in the “coming weeks,” SHG VP of marketing Scott Meis told Brewbound.
Meis declined to disclose details about the structure of the deal. However, he shared that Fremont co-founder Matt Lincecum will remain as president of Fremont Brewing, reporting to SHG president Cate Hardy.
This marks SHG’s second craft brewery acquisition, following the 2021 deal for Pike.
Once the most recent transaction is complete, Pike Brewing will be folded into Fremont Brewing, although each will operate as individual brands with separate portfolios, Meis said.
Pike decommissioned its original brewery last fall as it prepared to shift production to a new facility in Seattle’s SoDo district. The brewery can produce 12,000 barrels annually, with the ability to stretch to 22,000, a spokesperson told Brewbound in October 2023.
SHG founder and chair Howard Wright said in the announcement: “We founded Seattle Hospitality Group in 2002 with the mission to invest in iconic Pacific Northwest brands, and our acquisition of Fremont Brewing is a continuation of this long-term vision. We are excited by this opportunity to invest in a Seattle company that shares our passion for culture and vision for growth.”
Lincecum and Sara Nelson founded Fremont Brewing in 2009, two decades after Charles and Rose Ann Finkel opened Pike Brewing.
In 2022, Fremont was the sixth largest Brewers Association-defined craft brewery in the Pacific Northwest region (Alaska, Oregon, Washington). The company produced 47,348 barrels of beer that year, a -6% decline compared to 2021 and down from its 2019 peak of 55,660 barrels.
Pike Brewing did not report production data in 2022.
Beyond craft breweries, SHG’s portfolio includes Ethan Stowell Restaurants, Kenmore Air seaplane flights and MTRWESTERN charter bus and transportation services, and is affiliated with attractions such as the Space Needle and other properties.