Just a few weeks following Milwaukee Brewing Company’s board of directors announcing plans to sell the company and its assets, the firm tasked with the sale says there has been substantial interest from potential buyers.
New Mill Capital, a manufacturing asset acquisition and disposition firm, is helping Milwaukee Brewing Company seek buyers for their downtown Milwaukee brewery, Third Ward ale house location, equipment and intellectual property. The downtown brewery is located at 1128 N. 9th St. in The Brewery District and the MKE Ale House is at 233 N. Water St.
“There was huge initial wave of interest and a steady stream thereafter for both the large production facility as well as the Ale House and IP. Over the last six weeks, we have been able to sort through potential buyers, provide tours and also additional due diligence material,” said Eric Weiler, managing principal at New Mill Capital. “With the amount of qualified parties currently interested, we feel it’s now time to move forward with the submission of offers which are due by May 25th.”
Company leadership declined to comment on how many offers they have received for Milwaukee Brewing Company, or when a sale might close.
According to a press release from New Mill Capital, the firm is considering offers for the 9th Street brewery, IP and MKE Ale House location both separately and as a bulk package.
Equipment assets include a 60 BBL fully automated four-vessel brewhouse; 200 BBL hot liquor tank; cold liquor tank; fermenters and brite tanks to 260 BBL; KHS canning, bottling and keg filling lines; and more. MKE Ale House also offers a smaller 15 BBL brewhouse and associated equipment.
