Baker Tilly Capital Advises Magnolia Brewing on Bankruptcy Sale

SAN FRANCISCO – Baker Tilly Capital, LLC, a boutique investment bank for middle-market businesses, successfully assisted Magnolia Brewing Company, LLC (Magnolia) in the sale of its business assets to a group led by New Belgium Brewing Company (New Belgium) as part of a bankruptcy proceeding.

Magnolia Brewing, established in 1997 in the heart of San Francisco’s Haight-Ashbury district, expanded operations in 2015 with the addition of Smokestack, a barbecue restaurant attached to its 30-barrel brewery production facility. Magnolia ownership decided it was necessary to sell after encountering financial difficulties shortly after the expansion.

Baker Tilly Capital analyzed Magnolia’s situation and marketed the company to a large group of financial and strategic buyers, matching them with a purchasing group led by New Belgium, which acquired the company for $2.7 million.

“We were pleased to identify a strategic buyer that perfectly aligns with Magnolia’s vision to keep the core history of the company moving forward,” Sean Dingeldein, managing director with Baker Tilly Capital, said.

The purchasing group, Ripple by the Bay, LLC, is a majority-owned subsidiary of New Belgium, with Dick Cantwell, founder of Elysian Brewing Company, and Oud Beersel, a Belgian lambic producer, serving as minority partners. The partnership will continue to operate both Magnolia locations with existing staff and brands, as well as add resources to grow the company in the near future.

To learn more about Baker Tilly Capital’s investment banking services, visit bakertillycapital.com.

About Baker Tilly Virchow Krause, LLP 

Baker Tilly Virchow Krause, LLP (Baker Tilly) is a nationally recognized, full-service accounting and advisory firm whose specialized professionals connect with clients and their businesses through refreshing candor and clear industry insight. With approximately 2,700 employees across the United States, Baker Tilly is ranked as one of the 15 largest accounting and advisory firms in the country. Headquartered in Chicago, Baker Tilly is an independent member of Baker Tilly International, a worldwide network of independent accounting and business advisory firms in 147 countries, with 30,000 professionals. The combined worldwide revenue of independent member firms is $3.2 billion.

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