US: Uinta Brewing Co agrees private equity deal
Uinta Brewing Co is looking to further expand its production capacity after a private equity group took part ownership of the firm.
The Utah-based brewer, the US's 46th largest craft beer producer by volume, has received investment from The Riverside Co for an undisclosed stake in the group. Will Hamill, Unita's CEO, who founded the brewer in 1993, will remain in the role and a "significant owner", according to Riverside.
“This investment from Riverside will allow us to expand our distribution, enhance our production capacity, continue our new beer development and increase our efforts in getting the word out about Uinta’s fantastic beer,” said Hamill.
Uinta recently completed an US$18m brewery expansion. In 2013, the company produced around 60,000 barrels of beer.
Loren Schlachet, a managing partner at Riverside, said: “The craft beer movement is expanding significantly and Uinta has enormous growth potential in both new and existing markets.”
Steve Rice, Riverside's VP added: “We’re delighted to be part of the next chapter in Uinta’s growth story, and we look forward to working with Will and his outstanding team.”
Riverside's global portfolio includes around 70 companies.
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