Milwaukee Brewing Company Is For Sale
Board puts ever-evolving company up for sale through acquisition specialist.
The 42, which includes Milwaukee Brewing Company’s production brewery. Photo by Jeramey Jannene.
Opportunity is knocking for Milwaukee’s next beer baron. Milwaukee Brewing Company is for sale.
The 25-year-old brewery announced Friday that its board hired acquisition and disposition firm New Mill Capital to sell the company.
“We put our heart and soul into this brewery, building it into the operation it is today,” said Jim Hughes, the primary shareholder, in a statement. “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 sale includes the production brewery at 1128 N. 9th St. inside The 42 complex and the Milwaukee Ale House brewpub at 233 N. Water St.
“I believe [Milwaukee Brewing] is the nicest high-capacity microbrewery currently available in the country and positioned in a great location from a distribution standpoint,” said Eric Weiler, New Mill’s managing principal. “The layout is advantageous for expansion, and anyone looking to expand a brand, increase production or simply crank out 100,000 [beer barrels] per year, needs to look at this opportunity.”
In 2018, the company opened its approximately 60,000-square-foot 9th Street brewery in a former Pabst distribution facility alongside a host of other tenants. New Mill reports that it is currently capable of producing 75,000 barrels per year and licensed for up to 200,000 barrels.
McCabe was replaced as CEO by David Hock in 2019. But Hock is not mentioned in the press release announcing the business for sale.
The latest BT-100 barrel tax report available from the state, covering January 2022, shows the brewery producing approximately 2,000 barrels across the month. In the two months prior, according to the state tax reports, it produced approximately 4,100 barrels.
The Milwaukee Ale House restaurant is popular for more than just beer. It offers a multi-level, outdoor riverfront dining experience and a large dining room set up for live music.
The offer makes no mention of the Milwaukee Ale House brewpub in Grafton because Milwaukee Brewing sold the business and naming rights in 2011.
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