USA, NY: 1812 Brewing Company enters into non-binding letter of intent to acquire a new York State regional brewery and brew pub
1812 Brewing Company, Inc. has announced that it has entered into a non-binding Letter of Intent to acquire the assets and business of a New York State regional brewery and brew pub. The terms, including the final purchase price and the release of the target’s name, are subject to mutually agreed upon non-disclosure agreements, the Globe Newswire reported on September 15.
Tom Scozzafava, the company’s Chairman and CEO, stated, “What I can say is both parties are excited about this potential transaction. Each would give the other new retail outlets to showcase the other’s products outside their own, respective market. “Furthermore,” Mr. Scozzafava continued, “on the hospitality side the combined companies would be far less seasonal, and 1812 Brewing Company would leverage its new brewing, bottling, and soon-to-be canning infrastructure to unlock growth and value with the target’s brands. If we can close this deal, it would be a win-win.”
The company recently announced that it had both finalized an equipment purchase agreement as well as secured private equipment financing to acquire a five-head can filling and labeling line from industry partners Wild Goose Filling and Ska Fabricating).
The company also recently announced that it has been awarded the Gold Medal in the Amber Ale category for the United States in the prestigious World Beer Awards. The World Beer Awards are global awards selecting the very best in all the international recognized styles and to award and promote the world’s best beers to consumers and trade partners across the globe.
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