Thursday, September 27, 2012

Attack of the Squasatch

Squasatch: -noun (skwa-sach)
A joint Venture of Squatters and Wasatch breweries. Produced by the Utah Brewers Cooperative.

Squatters/Wasatch announced yesterday that the two companies have entered into an agreement to merge into one company. The two breweries have had a long relationship through the Utah Brewers Cooperative but the two companies have always been separate.

The two companies have been looking into expanding their already wide distribution network for quite some time and with a new third party investor, their expansion plans will soon come to fruition.

Boston based, Fireman Capital will make a 35 million dollar investment in the combined business. The investment will support further expansion of the Squatters and Wasatch portfolio of craft beers, distribution growth, brand and marketing initiatives, and the continued success and expansion of the complementary brewpub business.

Peter Cole, Founding Partner of Squatters, said, “This investment opens the door to the next level for Squatters and Wasatch, and provides the financial firepower and expertise we need to meet rapidly growing demand for our beer and to reach new markets.

Greg Schirf, the founder of Wasatch Brewery, will continue to manage brewery operations for the company. Joe Lambert, Operating Partner for Squatters since 1996, will continue to oversee the restaurant business. Peter Cole, Jeff Polychronis, Joe Lambert and Greg Schirf will all maintain ownership in the combined company.

Look for regional, Utah based Squatters/Wasatch  breweries to pop up in other states, possibly Texas as part of their regional distribution plan. Wasatch and Squatters beer is sold in 11 states - they have a combined five restaurants and 300 employees.

So, what do you think, is this third party going to benefit and evolve the progressive beer movement we're currently experiencing in Utah? Or do you fear the money will influence changes in the brands we've come to know and love.

Cheers!

14 comments:

DW said...

I am wary of any company that ends in 'Capital', but I hope the deep pockets can help the breweries expand their portfolio and give them some more muscle to flex against our beloved lawmakers.

Adam Curfew said...

As far as the beers changing. I can guarantee that we will not be changing our beers to fit any sort of mass market idea. I would sooner cut off my leg than change the beers that I love.

Anonymous said...

they should just merge with the craft brewers alliance and complete the transition to true mediocrity

Mikey said...

@Adam
Booyah!!

DW said...

@Anon-
Just boo.

Douglas said...

Could be interesting. Opening other places in Texas etc. is certainly a money making idea. It's amazing how many places in the U.S. still don't have a ton of local craft breweries. In terms of 'selling out' or becoming low quality, no way! The money is in good beer not cheap crap. You'll never compete with Bud, Miller and Coors for the cheap market and the only way to compete in the craft market is a good product.

Anonymous said...

so, if you care where your money goes, do some research! One of the owners of fireman capital is doing a fundraiser for twitt romney!

Greg said...

Hmm, this says majority ownership goes to the PE firm.
http://www.brewbound.com/news/fireman-capital-partners-purchases-majority-interest-in-utah-brewers-cooperative

I hope it works out for these guys.

Unknown said...

@Adam Hell Yeah! Can I get some Devastator on tap, please???

Adam said...

@unknown I'm with you man other than the inherent danger of the dev on tap;) We are selling our beer on draught outside of utah. It's a funny thing to go out of state to have your own beer for the first time on draught at a bar. I was in Nebraska drinking Outer Darkness on tap, not quite sure how that night ended. I'll tell you though they also sell full suspension and the next day I was all about it. Nothing like a great session beer. Especially on a hung over football Sunday.

Anonymous said...

@Adam: He who has the majority has the last say.
You won't have anything to say about it if they change your beers, except leave or cut off your leg.

Mark Robinson said...

@Anonymous
How about we see what happens first, before rushing to judgment about whether or not this will be a good thing for the beers produced by Squasatch? The beers will speak for themselves, not any of us.

Furthermore, why are you taking cheap shots without putting your name behind them? I think it's quite cowardly to hide, and makes me want to completely disregard anything you say. Identify yourself, and then lets have a discussion.

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