San Diego-based Mission Brewery was sold in late July to a California holding company led by Kenneth Little, a partner in Brandes Investment Partners, according to documents filed with the California Secretary of State’s Office.
Little told Brewbound that the transaction was “through a small group of investors” led by himself and Darren Yetzer, and “is completely unrelated” to Brandes. He did not disclose the exact number of investors, adding that the ownership group will likely expand over time, and may include “some ownership by key employees.”
The deal is a complete buyout of Mission’s previous ownership, of which Little said he was the second largest shareholder. Mission will continue its operations as is: “It simply now has new owners,” Little said.
Here’s how the arrangement works: An agreement between Little’s Mission HoldCo. and Mission Brewery’s Dan Selis, who represented the brewery’s equity holders, was entered into on April 23, records show. The transaction was filed with the Secretary of State on July 20 and went into effect on July 21. Little’s Mission HoldCo. was incorporated with the Secretary of State’s office on January 23, 2021.
News of the transaction was tucked away in a press release last week announcing the hiring of former Craft Brew Alliance (CBA) and Anheuser-Busch executive Dan Partelow as CEO. Partelow’s hiring was “concurrent with [Mission’s] change of control transaction,” according to the release. Little added that the “hiring of Dan is a key pillar of [Mission’s] overall plans going forward.”
Partelow had spent nearly nine years at CBA in a variety of executive roles, including VP of sales, VP of commercial development, and VP and general manager. Prior to joining CBA, Partelow served in several executive leadership roles within Anheuser-Busch’s wholesale operation division for more than 26 years.
“We are excited to have Dan join the Mission Brewery team and lead it in its next phase of growth,” Little said in the release. “His track record of leadership and experience will be critical in positioning Mission as a leading, innovative craft brewery in San Diego.”
“I’m excited and honored to be joining the Mission Brewery team,” Partelow added. “The brewery has an amazing sense of heritage and deep roots in the San Diego community. The Mission team is a dedicated, passionate group and, together, we look forward to the opportunity that is in-front of us.”
Partelow will replace Selis, who resurrected Mission Brewery in 2007 and will remain “an active member of the leadership team,” according to the release. Meanwhile, Little is listed as chairman of the board.