The Milwaukee Brewing Company has put itself up for sale, according to a statement from an acquisition firm that specializes in food and beverage plant sales and dispositions.
New Mill Capital, a national acquisition and disposition firm, said in a statement Friday that “the board of directors of Milwaukee Brewing Company has engaged New Mill Capital to seek potential suitors for its downtown Milwaukee production brewery and ale house location including all equipment, intellectual property, and book of business as a going concern,” according to a statement.
The sale would include the company’s brewery operation at 1128 N. 9th St. near Fiserv Forum and the Milwaukee Ale House at 233 N. Water St. in the city’s Historic Third Ward neighborhood.
In its statement, New Mill Capital said it is beginning the process of selling the company immediately and added that it is “focused on finding a strategic buyer for the assets and operation” of Milwaukee Brewing Co.
The brewery was founded in 1997.
New Mill Capital, in marketing materials on its website, says Milwaukee Brewing Company is the “nicest major microbrewery available in the country,” and that it is located in “an amazing downtown Milwaukee location.”
Representatives of Milwaukee Brewing and New Mill Capital could not be reached for comment.
“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, in the statement issued by New Mill.
“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.”
The company produces traditional and specialty ales as well as hard cider, seltzers, and ready to drink cocktails.
New Mill Capital describes itself as “a privately held manufacturing asset acquisition and disposition firm specializing in food processing & beverage plant acquisitions, sales, business brokerage, equipment auction programs, and valuations.”
Article originally posted on Milwaukee Journal Sentinel. View article here >>