FORT LAUDERDALE, Fla. – Farlie Turner & Co. (“Farlie Turner”), a leading investment bank serving middle market clients, is pleased to announce the sale of Funky Buddha Brewery (“Funky Buddha”) to Constellation Brands, Inc. (NYSE:STZ), a leading beverage alcohol company. Farlie Turner served as the exclusive financial advisor to Funky Buddha. Terms of the transaction, which closed August 9, 2017, were not disclosed.
Founded in 2010 in Boca Raton, Florida, Funky Buddha is committed to producing bold craft beers that marry culinary-inspired ingredients with time-honored technique. Its lineup includes year-round brews Floridian Hefeweizen and Hop Gun IPA, along with specialty releases such as No Crusts Peanut Butter and Jelly Brown Ale and the highly sought after Maple Bacon Coffee Porter. Its Oakland Park production brewery opened in June 2013 and distributes draught beer to over 650 retail outlets from Key West to Central Florida.
“Farlie Turner gave us invaluable advice and guided us through a deeply complex process,” stated the brewery’s founder, Ryan Sentz. His business partner and co-founder, brother KC Sentz added, “The Farlie Turner team was committed to us from beginning to end, and their in-depth knowledge of the craft beer industry meant that they were incredibly easy to work with.”
“We are exceptionally pleased that Funky Buddha’s founders chose Farlie Turner to help them with this next step in the company’s growth,” commented Managing Director Craig Farlie. “Funky Buddha’s innovative beers are already well known and much loved by Florida beer drinkers, and we look forward to seeing their beers become more widely available as part of the Constellation Brands’ family.”
The Funky Buddha transaction team was led by Managing Director Craig Farlie and Vice President Daniel Vetrano, with Keita Iwabuchi also playing a key role. The transaction represents another craft beer deal in Farlie Turner’s burgeoning beverage industry practice. Holland & Knight, led by Partner Marc Druckman and Associate Jordan Schneider, served as legal advisor to the sellers.
About Farlie Turner
Farlie, Turner & Co., LLC, and its affiliate Bayshore Partners, LLC, a broker-dealer registered with FINRA, provide merger and acquisition, private placement and financial advisory services to middle market companies. Please visit www.farlieturner.com for more information.