Craft Brewing and Distilling News for July 27, 2015July 27, 2015
•Atlanta, Georgia-based SweetWater Brewing Company is preparing for an initial public offering, Reuters reports. With the backing of private equity firm TSG Consumer Partners, the company is reportedly in talks with investment banks about a stock market flotation that would put its value in the hundreds of millions of dollars. The move is expected later this year. TSG provided a minority investment to SweetWater earlier this year, and in recent days the company hired former Molson Coors executive Bill Waters as chief financial officer and promoted former CFO Kim Jones to chief executive. In March, SweetWater entered the Chicago market following a $19 million expansion that it says will allow it to keep up with growing demand. Company volume rose 24% to 190,000 barrels last year, Reuters reported.
•Salem, Massachusetts’ Far From The Tree cider house has partnered with distributor Massachusetts Beverage Alliance (MBA) to expand availability throughout the Bay State. The cider company had previously self-distributed around the North Shore and greater Boston area. Far From The Tree was founded in 2013 and produces a line of small-batch, traditional and craft hard cider from 100% Massachusetts pressed apples. MBA’s network includes distributors Merrimack, Burke, Colonial, Commercial and Atlas.
Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.