Los Angeles, CA – First Beverage Financial, the investment banking arm of First Beverage Group, announced that it acted as the exclusive financial advisor to both 21st Amendment Brewery and Funkwerks Brewing Company in their new partnership with Brooklyn Brewery. The partnership includes an expanded sales and marketing relationship and, as part of the agreements, Brooklyn has made meaningful minority investments in both 21st Amendment and Funkwerks. Terms of the transactions were not disclosed.
The partnership with Brooklyn, a leading global independent craft brewer, allows the three partners to leverage a combined platform that will be comprised of a field sales and key accounts team of 70 salespeople and 90 brand ambassadors covering 38 states. “The changes in the competitive landscape demand creative new go-to-market strategies” said Robin Ottaway, president of Brooklyn Brewery. “We consider ourselves incredibly fortunate to have found partners who share our passion for beer, want to remain independent, and hold a long-term view.”
“First Beverage helped us understand the landscape of the changing craft beer world and introduced us to like-minded people,” said Nico Freccia, 21st Amendment co-founder. “For us, any partnership was always going to be about the people and synergies we could create together. First Beverage understood and facilitated that and we ended up with the best possible outcome.”
“First Beverage was a tremendous asset to the process of completing our partnership, not only because of their comprehensive knowledge of the industry but also their ability to implement creative solutions,” said Brad Lincoln, co-founder of Funkwerks. “Their guidance and hard work made what seemed like a difficult endeavor go relatively smoothly.”
“We were thrilled to work with both the 21st Amendment and Funkwerks teams and be a part of helping them form this compelling craft platform with Brooklyn Brewery. Both transactions provided 21st Amendment and Funkwerks with not only a meaningful capital investment, but a significantly enhanced and integrated sales and marketing platform that will strengthen their growth opportunities nationally and internationally,” said Nicole Fry, managing partner of First Beverage.
“We have long been an advocate for a true craft-on-craft partnership. Helping bring all the parties together has been a wonderful experience and we were delighted to have played a small part,” said JB Shireman, director of First Beverage.
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 over 200 years 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 21st Amendment Brewery
Founded in 2000 by Nico Freccia and Shaun O’Sullivan, 21st Amendment first opened the doors to its brewpub in San Francisco’s historic South Park neighborhood with Freccia managing the restaurant and O’Sullivan spearheading the brewing process. In addition to quickly becoming one of the city’s favorite pubs, 21st Amendment began expanding beyond the Bay Area by helping to pioneer the movement to canned craft beer. Known for their witty names and delicious brews, 21st Amendment offers year-round selections, as well as seasonal offerings and their infamous ‘Insurrection Series’, a once-in-a-while limited edition release. Sold in 25 states, 21st Amendment operates out of its new San Leandro brewery headquarters and is among the top 50 craft brewers in America. For more information, visit www.21st-amendment.com
About Funkwerks Brewing Company
Founded in 2009 by brewers Gordon Schuck and Brad Lincoln, Funkwerks is a specialty craft brewery specializing in Saison, Sour, and Belgian-style craft beers made in their small brewery in Fort Collins, Colorado. The 2012 winner of the Small Brewer of the Year Award at the Great American Beer Festival, Funkwerks beers are available in seven U.S. states and Japan. For more information, visit www.funkwerks.com
About Brooklyn Brewery
The Brooklyn Brewery is a leading global independent craft brewer and a pioneer of the American craft beer revolution. From its home in Williamsburg, Brooklyn, the company draws inspiration from its local community of innovators and makers to spread the culture and creativity of craft beer to 29 states and 30 countries on five continents. Additional information on Brooklyn’s beers, blog, events and more can be found at www.brooklynbrewery.com