Watertown, NY, Sept. 15, 2022 (GLOBE NEWSWIRE) -- 1812 BREWING COMPANY, INC. (OTC Pink: KEGS) (the "Company" or “KEGS”) is pleased to announce 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.
Tom Scozzafava, Chairman and CEO of KEGS, 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 (https://wildgoosefilling.com) and Ska Fabricating (https://skafabricating.com).
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.
About 1812 Brewing Company (“KEGS or the “Company”):
KEGS is an operator of and investor in companies in the craft beer industry. The Company seeks to build a nationwide network of craft breweries to develop and foster respective brand growth at the local, regional, and national level. KEGS looks to build a network wherein certain economies of scale can be shared across it such as production, distribution footprint expansion, inter-member contract brewing, new product development, sharing of best brewery practices and scale logistics and transportation. The network is to be built through investment by 1812 Brewing Company while maintaining the members’ respective local and regional uniqueness, brand autonomy and direct involvement with its consumers. The Company seeks to be an “incubator” of growth for its holdings in the industry.
The Company’s current holding, 1812 Brewing Co., produces award-winning beers such as War of 1812 Amber Ale (“1812 Amber Ale”), 1812 Light, Hazy Oasis Pale Ale, Thousand Islands IPA, Malicious Intent XX IPA, Route 11 Lager, Railroad Red Ale, Helles Bells Pilsner, St. Stephens Stout, Third Rail Porter, Featherhammer Maibock.
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Safe Harbor: This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approval for anticipated actions.
Contact: contact@1812ale.com
Attachments
- $KEGS - 1812 Brewing Company Enters Into Letter of Intent to Purchase Brewery/Brew Pub
- $KEGS - 1812 Brewing Company Enters Into Letter of Intent to Purchase Brewery/Brew Pub
