Craft Brewing and Distilling News for April 5, 2018April 5, 2018
•San Diego-based Green Flash Brewing has been sold to WC IPA LLC, a newly formed investor group, for an undisclosed amount. The sale came after Comerica, Green Flash’s chief lender, foreclosed on the brewer. WC IPA LLC is led by president Richard Lobo of private equity firm Muirlands Capital; vice president Michael Hinkley (Green Flash’s founder); manager Josh Yelsey, former manager for AB InBev’s mergers and acquisitions department and head of finance for AB InBev-owned craft breweries; and other investors. Hinkley will continue to lead the brewer, and Dave Mills, a veteran of Ballast Point, has joined as vice president of sales and business development for the Green Flash and Alpine brands. Amid rising debt, Green Flash was forced to close its Virginia Beach production facility and Poway, California taproom and barrel aging facility, Cellar 3, last month. Green Flash brews, once distributed nationally, will now be available in California, Arizona, Colorado, Hawaii, Nevada, Texas, Utah, and Nebraska, where the company will open a brewpub in Lincoln later this month.Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.
Tagged : Green Flash Brewing
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