Los Angeles, CA – First Beverage Financial, the investment banking arm of First Beverage Group, announced that it acted as the financial advisor to Colorado’s Breckenridge Brewery in its agreement to sell to The High End, the craft business unit of Anheuser-Busch. Terms of the transaction, which is expected to close in the first quarter of the year, were not disclosed.
Based in Littleton, Colorado, 25-year-old Breckenridge Brewery sold approximately 70,000 barrels in 2015 and recently built a new production facility in Littleton. Its beers are available in 35 states. The partnership with Anheuser-Busch will include the company’s new production facility as well as its Farm House restaurant in Littleton and its original brewpub and innovation center in Breckenridge. The brewery’s current management group, Breckenridge-Wynkoop, will continue to own and operate several brewpubs and ale houses in Colorado, including Ale House at Amato’s in Denver; Breckenridge Ale House in Grand Junction; Breckenridge Colorado Craft in Denver; The Cherry Cricket in Denver; Mainline in Fort Collins; Phantom Canyon Brewing Co. in Colorado Springs; and Wynkoop Brewing Company in Denver.
“First Beverage has real insights on our industry—the business, the participants and the culture,” said Todd Usry, brewmaster and general manager of Breckenridge. “Not surprisingly, we benefitted greatly from advice that was highly informed, professional and responsive.”
“We were glad to be part of a successful transaction for Breckenridge, its stakeholders and employees,” said Townsend Ziebold, managing partner of First Beverage. “Breckenridge has a great heritage as one of Colorado’s oldest craft breweries, and its growth and innovation should continue to flourish in the future.”
“Breckenridge is an iconic Colorado craft brewery,” added JB Shireman, director of First Beverage. “I am pleased First Beverage was able to assist them in finding a partner who can ensure their continued success for many years to come.”
About First Beverage Group:
First Beverage Group is a full-service financial services firm dedicated exclusively to the beverage industry. First Beverage provides a comprehensive range of products, including investment banking and investment funds for growth capital to leading beverage entrepreneurs and operators. Headquartered in Los Angeles with offices in Boston and New York, the First Beverage team is made up of senior executives with over 200 years of beverage industry experience.
About Breckenridge Brewery:
Breckenridge Brewery, based in Littleton, Colo. and founded in 1990, is known for creating balanced, approachable and interesting hand-crafted beers. The original recipes – and a handful of seasonal creations – are handcrafted at the company’s Colorado-based production brewery in Littleton, and brewpub in Breckenridge, and also available in 35 states across the country.
About Anheuser-Busch:
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 ingredients sourced from Anheuser-Busch’s family of growers, every batch is 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. Budweiser and Bud Light Lime Lime-A-Rita were named Brands of the Year for the Beer and the Spirits, Malt Beverages and Wine categories, respectively, by Ace Metrix® in 2014. Anheuser-Busch is the U.S. arm of Anheuser-Busch InBev and operates 17 local breweries, 21 distributorships and 23 agricultural and packaging facilities across the United States. 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 five other Anheuser-Busch breweries.
About The High End:
The High End is a business unit of Anheuser-Busch, created to provide its unique craft and European import brands with autonomy and support for growth, while fostering a collaborative environment for the brightest brewers in the beer community. The High End brings dedicated resources to support the growth of its brands, create successful partnerships and deliver more variety to consumers. Established now, The High End includes brands such as Stella Artois and Shock Top, along with craft breweries Goose Island, Blue Point, 10 Barrel, Elysian and Golden Road.