USA: Genesee Corporation Announces Agreement to Sell Brewing Business and Proposals to Sell Other Assets and Dissolve and Liquidate the Corporation

Genesee Corporation (Nasdaq: GENBB) today announced that the Special Committee of the Board of Directors, formed to consider strategic alternatives for the Corporation's brewing business, has approved an agreement to sell the brewing business in a management buy-out led by Samuel T. Hubbard, Jr., President and Chief Executive Officer of the Corporation.

Genesee Corporation (Nasdaq: GENBB) today announced that the Special Committee of the Board of Directors, formed to consider strategic alternatives for the Corporation’s brewing business, has approved an agreement to sell the brewing business in a management buy-out led by Samuel T. Hubbard, Jr., President and Chief Executive Officer of the Corporation.

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