Friends and Associates:
Brewers Advisory Group announced that it acted as advisor to Palmetto Brewing Company in its agreement to be acquired by Catawba Brewing Company. The transaction closed in late December.
Based in Charleston, South Carolina, Palmetto Brewery sold approximately 16,000 barrels in 2017, and has experienced rapid growth. Catawba Brewing sold about 17,500 barrels in 2017. The two companies are a natural fit with complementary skills in brewing, manufacturing and distributor management.
Larry Lipov, owner of Palmetto Brewery said, “Mike Mitaro, President of Brewers Advisory Group, was instrumental in helping us facilitate this deal and helping us understand how our company fits within the changing craft beer industry. We were introduced to people with similar values which made doing a business transaction easier. Mike’s relationships in the beer industry and experience with transactions like these helped us structure a deal that worked for both Palmetto and Catawba. His reassuring advice and professionalism helped smooth the path every step of the way.”
Billy Pyatt, owner of Catawba said, “Although Mike was representing the Palmetto Brewery, his knowledge of the industry as a former craft brewery owner himself really helped Catawba put this together. Further, he helped bridge us with Live Oak Bank, a leading craft beer lender, who provided the debt financing”.
Mike Mitaro said, “It was great to work with Larry and the Palmetto team to help them transition to a partner who shares their values and can position both breweries for continued long term growth. I’m excited for the future of the Palmetto Brewery with Billy Pyatt and the Catawba team.”
About Brewers Advisory Group
Brewers Advisory Group is a consulting team led by Mike Mitaro, a senior executive with entrepreneurial and corporate experience in the beer industry, both domestically and internationally. Mike has founded and sold several beer companies and has walked in the shoes of craft brewery owners. Brewers Advisory Group works with craft breweries to help them build successful companies, and if desired by the owners, helps facilitate the sale of the business. For more information, please visit www.brewersadvisorygroup.com.
About Catawba Brewing Co.
Founded by the western North Carolina’s Pyatt family in 1999, Catawba Brewing Co. operates their main production facility in downtown Morganton, NC; a small batch brewery and tasting room in downtown Asheville, NC; a tasting room in Asheville’s Biltmore Village; and a brewing/tasting room/event complex in Charlotte NC. Catawba beers are currently distributed in NC, SC, TN, AL, GA, and internationally.
About Palmetto Brewing Company
Palmetto Brewing of Charleston, founded in 1993, is SC’s first craft brewery. Owned by the Lipov family and deeply rooted into the Charleston community, they have experienced growth from 2000 barrels in 2012 to a forecasted 16,000 barrels in 2017. Palmetto beers are currently distributed in SC, NC, and parts of Georgia, and they operate a brewery/tasting room in Charleston, SC.