Articles Tagged with 'Mergers & Acquisitions'

Following Sale to VC Firm, Smuttynose Regroups

Following Sale to VC Firm, Smuttynose Regroups

Less than one month after announcing plans to purchase Smuttynose Brewing Company from Provident Bank, New Hampshire’s Runnymede Investments has finalized its deal for the struggling Portsmouth-area craft brewery and launched a 90-day plan aimed at helping it return to growth.

Smuttynose Sold to New Hampshire VC Firm

Smuttynose Sold to New Hampshire VC Firm

Despite initially reaching a verbal agreement to sell Smuttynose Brewing to a New Hampshire entrepreneur, Provident Bank has found another buyer for the distressed craft brewery. Runnymede Investments, a North Hampton-based venture capital and investment firm, has agreed to purchase the struggling brewery and restaurant for an undisclosed sum. The deal for Smuttynose comes exactly one week after the Portsmouth-area beer company was sold at a public auction to Provident Bank, its lead lender, for $8.25 million.

Last Call: Three Floyds Plans Huge Expansion; Pretty Things Founders Resurface

Last Call: Three Floyds Plans Huge Expansion; Pretty Things Founders Resurface

In this week’s edition of Last Call: Plans for Three Floyds’ brewery expansion are revealed; Pretty Things founders resurface in England; Hanson Spirits acquires Carneros Brewing’s production facility and taproom; Deschutes and Bluejacket announce can packaging releases; and more.

Smuttynose to be Auctioned Off Amid Missed Growth Projections

Smuttynose to be Auctioned Off Amid Missed Growth Projections

New Hampshire’s Smuttynose Brewing, citing overleveraging of investments and missed growth projections amidst increased competition from fellow craft brewers, is scheduled to be sold March 9 at a bank auction.

Seaboard Craft Beer Holdings Makes a 2nd Acquisition

Seaboard Craft Beer Holdings Makes a 2nd Acquisition

Seaboard Craft Beer Holdings, the parent company of Tampa Bay’s Big Storm Brewing Co., has acquired the assets of Cape Coral Brewing Co., a Florida brewery that shuttered in October after two years in business.

Texas’ Guns & Oil Takes Over Former Payette Brewing Facility in Idaho

Texas’ Guns & Oil Takes Over Former Payette Brewing Facility in Idaho

Texas-based contract brewery Guns & Oil Beer has reached an agreement to take over the former Payette Brewing Co. production facility located about two miles outside of Boise, in Garden City, Idaho. In a conversation with Brewbound, Guns & Oil founder Cary Prewitt said he’s taken out bank loans to finance the $1 million project, including acquiring Payette’s 15-barrel brewhouse. He added that he’s signed a five-year lease on the 11,000 sq. ft. property.

Green Flash Acquires Nebraska-Based Production Facility

Green Flash Acquires Nebraska-Based Production Facility

Green Flash Brewing Co. announced plans today to open a third brewery — this time in the Midwest. The San Diego-headquartered company has acquired a 10,000 sq. ft., 10,000-barrel production facility with a tasting room and restaurant in Lincoln, Nebraska.

With Funky Buddha Purchase, Constellation Shifts Acquisition Strategy to ‘Local Brands’

With Funky Buddha Purchase, Constellation Shifts Acquisition Strategy to ‘Local Brands’

Constellation Brands has acquired fast-growing Florida-based craft beer producer Funky Buddha and, in the process, formed a new “High End Craft and Specialty” business group specifically tasked with overseeing the company’s present and future craft brewery purchases. Financial terms of the deal, which closed yesterday, were not disclosed. The structure is similar to Constellation’s 2015 purchase of San Diego’s Ballast Point Brewing, which was worth $1 billion, Brewbound understands. A sale price was not disclosed, but the all-cash deal is for 100 percent of the company, according to KC Sentz, who co-founded the brewery with his brother Ryan Sentz.

Constellation Brands Acquires Funky Buddha

Constellation Brands Acquires Funky Buddha

Constellation Brands today announced the acquisition of Florida-based Funky Buddha Brewery. Terms of the deal were not disclosed.