Huge news for the beer industry this morning—Victory Brewing Company and Southern Tier Brewing Company will be joined together as a new company and managed by a private equity firm.
The brewing companies will each remain intact but will operate under parent company Artisanal Brewing Ventures (ABV), which was created in 2014 by Phin and Sara DeMink, founders of Southern Tier Brewing Company, and Ulysses Management LLC. This joint venture will make these two established and successful breweries a force to be reckoned with in the Northeast. This partnership will allow each brewery to continue doing what they do best while pooling expansive collective resources, and the combining of these two brewery giants will result in them being included within the list of top 15 breweries in the United States, as they had a combined shipment of 250,000 barrels in 2015.
The co-founders of Victory Brewing Company, Bill Covaleski and Ron Barchet, will become significant shareholders in ABV and will join the Board of Directors. Southern Tier’s CEO and CFO, John Coleman and Bill Wild, respectively, will lead the management team for ABV.
Already impressive in their own right individually, the joining of these two well-known brewing companies will only lead to an even greater things to come. Best of luck to Victory Brewing Company and Southern Tier Brewing Company in their new professional venture!
- Photo: Victory Brewing Company
