Thursday, September 27, 2012
Attack of the Squasatch
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.