PORTLAND, Ore.--(BUSINESS WIRE)--Dec. 4, 2017--
Brew Alliance, Inc. (“CBA”) (Nasdaq:BREW), a leading craft brewing
company, announced today that it has entered into an agreement to sell
its Woodinville, Washington facility to Sound Commercial Investment
Holdings, LLC for $24.5 million. The transaction is subject to a
financing contingency and other closing conditions that are expected to
be resolved by the end of 2017.
As previously announced, the sale of CBA’s Woodinville property, which
includes a production facility, office space, and restaurant, will
complete a key phase in the company’s ongoing efforts to optimize its
brewery footprint, reduce costs and improve gross margins. While CBA
will provide more information on the financial and operational benefits
of the sale at closing, the company anticipates a negative impact on
2017 earnings per share in the range of $0.02 to $0.03 as a result of
contingencies and transaction costs directly related to the sale.
Statements made in this press release regarding the Company’s or
management’s intentions, expectations or predictions are forward-looking
statements. Additional information concerning factors that could cause
actual results to differ materially from those in the forward-looking
statements is contained in the Company’s SEC filings, including, but not
limited to, the Company’s current report on Form 8-K filed with the SEC
on December 4, 2017 regarding the sale transaction, and its report on
Form 10-K for the year ended December 31, 2016. Copies of these
documents may be found on the Company’s website, www.craftbrew.com,
or obtained by contacting the Company or the SEC.
About Craft Brew Alliance
CBA is an independent craft brewing company that brews, brands, and
brings to market world-class American craft beers.
Our distinctive portfolio combines the power of Kona Brewing Company, a
dynamic, fast-growing national craft beer brand, with strong regional
breweries and innovative lifestyle brands Appalachian Mountain Brewery,
Cisco Brewers, Omission Brewing Co., Redhook Brewery, Square Mile Cider
Co., Widmer Brothers Brewing, and Wynwood Brewing Co. CBA nurtures the
growth and development of its brands in today’s increasingly competitive
beer market through our state-of-the-art brewing and distribution
capability, integrated sales and marketing infrastructure, and strong
focus on partnerships, local community and sustainability.
Formed in 2008, CBA is headquartered in Portland, Oregon and operates
breweries and brewpubs across the U.S. CBA beers are available in all 50
U.S. states and 30 different countries around the world. For more
information about CBA and our brands, please visit www.craftbrew.com.
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Source: Craft Brew Alliance, Inc.
Craft Brew Alliance
Jenny McLean, 503-331-7248