Distillery buyouts in the news

[TetonDistillery]

This might be an interesting topic to track over the years.

So since this one happened recently, I will post the link and basic info here. I will include the basics from the article in case the link goes dead over time.

http://www.bizjournals.com/portland/blog/2014/01/hood-river-distillers-buying-clear.html

Jan 24, 2014

Hood River Distillers Inc. is buying Clear Creek Distillery.

Terms of the deal were not disclosed but Clear Creek will continue to operate from its Northwest Portland location.

All of Clear Creek’s nine employees will be retained, said Clear Creek founder Steve McCarthy. McCarthy will also stay on as an adviser and spokesman.

The deal is an effort to continue to move the Clear Creek brand forward. For its part, Hood River expects to tap the distillation expertise Clear Creek has developed and integrate it into its operations.

“One of the worst things about a startup is that they are successful. That is what we have accomplished but as you grow you need working capital, you need more management depth and expertise in finance administration and processing and production,” he said. “We got all that but we have it at a level that is lagging behind our growth rate.”

With the sale, the company, which in 2013 hit about $2 million in sales, will be more sustainable and continue to grow, he said.