LOS ANGELES — First Beverage Financial, the investment banking arm of First Beverage Group, announced that it acted as the financial advisor to Avery Brewing Company in its partnership with Mahou San Miguel. Through this transaction, Mahou San Miguel will acquire a 30% ownership stake in Avery Brewing. Additional terms of the transaction, which is expected to close in January 2018, were not disclosed.
Founded in 1993 in Boulder, Colorado, Avery Brewing is the product of the entrepreneurial spirit of Adam Avery. Since its founding, Avery has built a reputation as one of the nation’s top-tier regional craft breweries, driven by an uncompromising commitment to innovation and the highest quality ingredients and brewing techniques. Avery has developed a diverse, award-winning portfolio – from Belgian styles to IPAs as well as a range of bitter and barrel-aged beers. Through this agreement, both companies will focus on promoting the organic growth of Avery Brewing by investing in innovation and quality, which will enable Avery to reinforce its position in current US markets and reach new ones, even beyond its borders.
“Finding the right partner for my Dad and me, one that would allow us to remain faithful to our beers and our culture, was critical for this investment to happen,” said Adam Avery, founder of Avery Brewing. “First Beverage took the time to understand exactly who we were looking for, and then to find a partner holding values that resonate with us. First Beverage’s guidance was invaluable to this exciting outcome.”
“Our focus was on finding the right strategic partner that shared Avery’s passion and commitment to the highest quality beers and would retain the culture Adam and his father have built,” said Nicole Fry, Managing Partner at First Beverage. “Avery is a compelling addition to Mahou San Miguel’s growing U.S. craft platform, and we are truly honored to have worked with Adam and his team to structure a partnership with two like-minded brewers that will strengthen the Avery brand 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. Headquartered in Los Angeles with offices in New York, the First Beverage team is made up of senior executives with decades of beverage industry experience. First Beverage provides a comprehensive range of products, including investment banking and investment funds for growth capital to leading beverage entrepreneurs and operators. First Beverage’s investment banking group has become one of the leading advisory firms in the premium, branded beverage sector, having closed over 20 transactions since 2013. For more information, please visit the company’s website www.firstbeveragegroup.com.
About Avery Brewing Co.
Since 1993, Avery has been committed to producing eccentric ales and lagers that defy styles and categories. Founded in Boulder, Colorado, by Adam Avery and his father, Larry Avery, Avery was the third fastest growing Top 50 craft brewery in 2016. Avery continues its obsession with the perfect beer and perfect beer experience – blending Old World tradition and expertise with ingenuity, creativity and boldness. In addition to Avery’s most emblematic brands (White Rascal, El Gose, Avery IPA, Lilikoi, and Maharaja), Avery stands out with its assortment of barrel-aged beers, boundary-pushing IPAs, Belgian offerings, and a steady stream of experimental beers. For more information, visit www.AveryBrewing.com.
About Mahou San Miguel
Mahou San Miguel is a 100% Spanish-owned family-run company with a 127 year history and is a leader in the Spanish brewing industry, producing over 70% of the Spanish beer consumed world-wide. Mahou San Miguel is present in 70 countries, with its main markets being United Kingdom, Equatorial Guinea, Italy, Germany, Portugal, India and the Nordic countries. In 2016 alone, its beer sales beyond its borders reached 2 million hectolitres and represented 15% of its total volume. In 2014, it signed an agreement with the craft brewer Founders Brewing, located in Grand Rapids, Michigan, in which it acquired a 30% share. Thus, it became a pioneer in Spain, by carrying out a transaction that enabled it to enter into one of the most dynamic and innovative markets in the world. For more information, visit www.mahou-sanmiguel.com.