Los Angeles, CA – First Beverage Financial, the investment banking arm of First Beverage Group, announced that it acted as the financial advisor to Terrapin Beer Company in its sale of a majority interest to Tenth and Blake Beer Company, the craft and import division of MillerCoors. Tenth and Blake previously purchased a minority interest in Terrapin in 2012. Terms of the transaction, which is expected to close in August, 2016, were not disclosed.
Founded in 2002 by John Cochran and Brian “Spike” Buckowski, two brewers who met while working at a microbrewery in Atlanta, Athens-based Terrapin has grown to include a 40,000 square foot brewing facility and 100-barrel brewhouse. The brewery’s lineup now includes award-winning year-round beers Terrapin Rye, Golden Ale, Hopsecutioner, Liquid Bliss, RecreationAle, and HI-5, as well as many other seasonals and special projects.
“It was an absolute pleasure working with First Beverage,” said co-founder John Cochran. “Their incredible knowledge of the beer business allowed us to consider several options, and in the end move ahead with the partner that was best suited to assist us in reaching the long-range strategic goals of the business while also accomplishing the vital task of taking care of our employees in the long term.”
“First Beverage’s knowledge and contacts in the beer industry are second to none,” added co-founder Spike Buckowski. “Their attention to detail from start to finish really helped to put us at ease throughout this transaction. I would rate our experience with First Beverage an A plus.”
“We were very pleased to be able to assist Terrapin in partnering with Tenth and Blake to accelerate its growth plans and to structure a transaction that provided continued ownership for certain key founders and management,” said Townsend Ziebold, managing partner of First Beverage.
“Terrapin was a really wonderful and complex project for us,” said JB Shireman, director of First Beverage. “All four principals wanted very different outcomes and it was very satisfying to help them all achieve their dreams.”
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. For more information, please visit the company’s website, www.firstbeveragegroup.com.
About Terrapin Beer Company
Terrapin Beer Co. began as a day dream between founders John Cochran and Spike Buckowski, who brewed and released their first beer, Rye Pale Ale, in 2002. Six months after its release, the beer made it to Denver for GABF, where John and Spike took home a Gold Medal for Rye Pale Ale in the American Pale Ale Category. Inspired by the creative culture of Athens, Terrapin began and continues to add to its beer lineup, with unique beers like Hopsecutioner, HI-5, W-n-B and many others. Today, Rye Pale Ale is accompanied by six other year-round beers, four seasonal sessions, and at least a dozen special projects, side projects and collaborations. The company and its 120+ employees continue to live by the Terrapin Mission Statement: “to create unique experiences through the passionate brewing of the finest quality craft beers”. Whether you’re joining us for a brewery tour at our tasting room, drinking a Hopsecutioner at your favorite watering hole, sipping some Hi-5 on your back porch, or enjoying a RecreationAle after a long day on the trail, we hope you appreciate the dedication we’ve put in for 14 years and counting.
About Tenth and Blake Beer Company
Tenth and Blake is the craft and import division of MillerCoors. The Tenth and Blake family includes Blue Moon Brewing Co. at the SandLot and River North in Denver; Jacob Leinenkugel Brewing Co. in Chippewa Falls, Wis.; 10th Street Brewery in Milwaukee; AC Golden in Golden, Colo.; Birra Peroni in Rome; Plzeňský Prazdroj (Pilsner Urquell) in Pilsen, Czech Republic; and Saint Archer Brewing Company in San Diego, CA. You can find out more at www.Facebook.com/TenthAndBlake.