After 25 years in business, Milwaukee Brewing Company’s board of directors announced Friday plans to seek potential buyers for the business and all of its assets.
Company leadership has tapped New Mill Capital, a manufacturing asset acquisition and disposition firm, to help them seek buyers for their downtown Milwaukee brewery, ale house location, equipment and intellectual property. The downtown brewery is located at 1128 N. 9th St. in The Brewery District and the MKE Ale House is at 233 N. Water St. in the Historic Third Ward.
“We put our heart and soul into this brewery, building it into the operation it is today,” said Jim Hughes, primary shareholder of Milwaukee Brewing Company. “We believe in the brewery and people who have been critical to our success, but have made the decision to search for a strategic buyer to satisfy internal needs and secure the future of Milwaukee Brewing for decades to come.”
Hughes declined to comment further on the reason for the sale when reached Friday.
New Mill Capital is currently conducting the offering process and is focused on finding a strategic buyer for Milwaukee Brewing Company’s assets and operations.
Equipment assets include a 60 BBL fully automated four-vessel brewhouse; 200 BBL hot liquor tank; cold liquor tank; fermenters and brite tanks to 260 BBL; KHS canning, bottling and keg filling lines; and more. MKE Ale House also offers a smaller 15 BBL brewhouse and associated equipment.
“I believe MKE is the nicest high-capacity microbrewery currently available in the country and positioned in a great location from a distribution standpoint,” said Eric Weiler, managing principal at New Mill Capital.
Last May, Milwaukee Brewing Company announced plans to increase its annual craft beer production by nearly 70%. Seven new brewery tanks were delivered to the 9th Street brewery.
Milwaukee Brewing Company was founded in 1997 and began as the Milwaukee Ale House with a custom 15bbl brewery. The brewpub has since grown to produce year-round ales with over 300 unique seasonal flavors and a production capacity of 100,000 barrels per year. The company is licensed for up to 200,000 BBL.
[caption id="attachment_545002" align="aligncenter" width="1280"] The MKE Ale House at 233 N. Water St. Image courtesy of Google Maps.[/caption]