PACIFIC BREWING & MALTING CO. AGREES TO ACQUIRE AMERICAN BREWING COMPANY

By Posted in - Uncategorized on October 6th, 2015 0 Comments

FOR IMMEDIATE RELEASE

PACIFIC BREWING & MALTING CO. AGREES TO ACQUIRE AMERICAN BREWING COMPANY

TACOMA, Wash – October 6, 2015 – Pacific Brewing & Malting Co, LLC, of Tacoma, Washington has announced that it has entered into a definitive agreement with American Brewing Company, of Edmonds, Washington to acquire its brewery and related business operations.  The consummation of the transaction is subject to typical and customary conditions to closing, including approval by the Washington State Liquor and Cannabis Board of PB&M’s application to assume American’s brewery license.

“We are excited about the opportunity to continue the tradition of innovation that American has started,” exclaims PB&M co-owner Brent Hall. “The addition of the American brand will complement our growth strategy and give us a larger presence in Washington craft beer.”

The respective breweries and taprooms will co-exist and grow together and the efficiencies created by merging certain aspects the two operations will be advantageous for both brands.

“We have been working towards expanding our brewing operations and our goal has always been to invest in a production brewery,” explains PB&M co-owner Steve Navarro. “This deal gives us the opportunity to increase our production capacity in the near term and bring our beers to a more diverse and widespread market.”

Neil Fallon, CEO of American Brewing Company, says this is the right move for his publicly traded company and is excited that the brewery will be in good hands.

“With our recent purchase of bùcha™ live kombucha, our focus has been shifted to functional beverages on a national level. It became clear that the demands of a publicly traded company were not well suited for a small local craft brewery. For example, investors living all over the country cannot buy our beer in their local markets. This hinders the growth of the stock and frustrates shareholders. We immediately recognized that moving the brewery out of the public company would benefit both the brewery itself and the remaining public company. It does so by allowing a long time business partner and friend to take the reins of the brewery and infuse new capital and attention to strengthen our already established local presence while allowing me to laser focus the public company in the health segment and better respond to shareholder desires.  We built this brewery from the ground up, and appreciate that it will continue to be operated by another local craft brewery that shares our values in producing award winning craft beers. “

Steve Navarro sums everything up perfectly.

“This is going to be a lot of fun.”

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About Pacific Brewing & Malting Co.
Pacific Brewing & Malting Co. was originally established in Downtown Tacoma in 1897 and grew to become the second largest brewery in Washington State until shut down by Prohibition in 1916. Re-established in 2014, mainstay beers include 1897 Pale Lager, Dirty Skoog Double IPA, Red Front Session Red, Potomac Citra Pale, Grit City Porter, and Prairie Line IPA. Additional seasonal and specialty beers rotate throughout the year. The brewery and family-friendly tap room is located at 610 Pacific Avenue.

610 Pacific Ave
Tacoma, WA 98402
253-383-BEER
pbm.promosapienmusic.com

About American Brewing Company
Founded in 2010, American Brewing Company, Inc., is an award-winning craft brewery based out of Edmonds, Washington. American Brewing Company’s current offerings include Breakaway IPA (named ‘Best in the West’ by Beer West Magazine), American Blonde (featured in GQ Magazine), Flying Monkey Dogfight Pale Ale, and Caboose Oatmeal Stout. American Brewing Company also owns bùcha™ live Kombucha which features 8 flavors of its sparkling kombucha tea.

180 W. Dayton St., Warehouse 102
Edmonds, WA 98020
425-774-1717
www.americanbrewing.com
www.mybuca.com.

Safe Harbor Statement

This press release contains “forward-looking statements” within the meaning of Section 27A of the 1933 Securities Act and Section 21E of the 1934 Securities Exchange Act. These statements include, without limitation, predictions and guidance relating to the company’s future financial performance and the research, development and commercialization of its technologies. In some cases, you can identify forward-looking statements by terminology such as, “may,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “potential,” “continue,” or the negative of these terms or other comparable terminology. These forward-looking statements are based on management’s current expectations, but they involve a number of risks and uncertainties. Actual results and the timing of events could differ materially from those anticipated in the forward-looking statements, as the result of such factors, risks and uncertainties as (1) competition in the markets for the products and services sold by the company, (2) the ability of the company to execute its plans, (3) other factors detailed in the company’s public filings with the SEC, which are available at http://www.sec.gov/. You are urged to consider these factors carefully in evaluating the forward-looking statements.

Contacts

Steve Navarro, Co-Owner
Pacific Brewing & Malting Co.
steve@pbm.promosapienmusic.com

Neil Fallon, CEO
American Brewing Company
neil@americanbrewing.com

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