First Beverage Group:
First Beverage Financial, the investment banking arm of First Beverage Group, announced that it acted as the financial advisor to Colorado’s Breckenridge Brewery in its agreement to sell to The High End, the craft business unit of Anheuser-Busch. Terms of the transaction, which is expected to close in the first quarter of the year, were not disclosed.
Based in Littleton, Colorado, 25-year-old Breckenridge Brewery sold approximately 70,000 barrels in 2015 and recently built a new production facility in Littleton. Its beers are available in 35 states. The partnership with Anheuser-Busch will include the company’s new production facility as well as its Farm House restaurant in Littleton and its original brewpub and innovation center in Breckenridge. The brewery’s current management group, Breckenridge-Wynkoop, will continue to own and operate several brewpubs and ale houses in Colorado, including Ale House at Amato’s in Denver; Breckenridge Ale House in Grand Junction; Breckenridge Colorado Craft in Denver; The Cherry Cricket in Denver; Mainline in Fort Collins; Phantom Canyon Brewing Co. in Colorado Springs; and Wynkoop Brewing Company in Denver.
“First Beverage has real insights on our industry—the business, the participants and the culture,” said Todd Usry, brewmaster and general manager of Breckenridge. “Not surprisingly, we benefitted greatly from advice that was highly informed, professional and responsive.”
“We were glad to be part of a successful transaction for Breckenridge, its stakeholders and employees,” said Townsend Ziebold, managing partner of First Beverage. “Breckenridge has a great heritage as one of Colorado’s oldest craft breweries, and its growth and innovation should continue to flourish in the future.”
“Breckenridge is an iconic Colorado craft brewery,” added JB Shireman, director of First Beverage. “I am pleased First Beverage was able to assist them in finding a partner who can ensure their continued success for many years to come.”