1812 Brewing Company, Inc. Forms 1812 Acquisition Company, Inc.
1812 Brewing Company has formed a wholly owned subsidiary, 1812 Acquisition Company, to facilitate strategic acquisitions in the craft brewing sector.
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Rhea-AI Summary
1812 Brewing Company has formed a wholly owned subsidiary, 1812 Acquisition Company, to facilitate strategic acquisitions in the craft brewing sector. This initiative is part of a three-pronged growth strategy aimed at expanding its brand portfolio and enhancing production capabilities. The company intends to acquire breweries that complement its existing offerings and broaden its geographic reach. Chairman and CEO Tom Scozzafava emphasized that this step positions the company to pursue acquisition opportunities effectively.
Positive
- Formation of 1812 Acquisition Company allows for targeted acquisitions.
- Strategic plan focuses on expanding brand portfolio and geographic reach.
- Utilization of excess production capacity through contract brewing.
Negative
- None.
Details
News Market Reaction – KEGS
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Company To Utilize Wholly Owned Subsidiary To Expand Via Acquisition
Watertown, NY, March 29, 2022 (GLOBE NEWSWIRE) -- 1812 BREWING COMPANY, INC. (OTC Pink: KEGS) (the "Company") announced that it has formed a subsidiary to pursue the strategic acquisition facet of its growth plan within the craft brewing industry. 1812 Acquisition Company, of which 1812 Brewing owns
As previously announced, 1812 Brewing Company’s three-pronged growth strategy within the craft beer sector includes:
- Organically growing the brands already in the portfolio. Currently, this includes War of 1812 Amber Ale, 1000 Islands IPA, and Malicious Intent XX IPA, among others;
- Through contract brewing, wherein for a fee, the Company utilize its excess production capacity to produce other parties’ beers; and
- Through acquisition or a series of acquisitions.
Specifically, the Company will seek out breweries that further its overall strategy and that complement its current holdings. This could mean seeking out targets whose distribution footprint broadens the portfolio’s geographic reach. It may also mean seeking targets whose products would broaden the Company’s product mix, with those such as ciders or hard seltzers for example.
Tom Scozzafava, Chairman and CEO stated, “This is just the first step in positioning the Company to act in the event we find a target that we want to approach. The formation of 1812 Acquisition Company will allow us to arrange financing on a parallel track with our acquisition search.”
About 1812 Brewing Company:
1812 Brewing Company is both an investment and operating company focused on the beverage and hospitality industries. Returns are intended to be in the form of revenue growth of companies in its core holdings as well as the eventual share appreciation and dispossession of those equity stakes in its investments. For more updates follow us on Facebook, Twitter and Instagram.
https://www.facebook.com/SacketsHarborBrewingCompany/
https://www.instagram.com/1812brewingco/
https://twitter.com/1812Brewing
Safe Harbor: This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approval for anticipated actions.
Contact: contact@1812ale.com
Investor Relations:
Peter Nicosia
President, Bull In Advantage, LLC
Phone: (585) 703-6565
Email: bullinadvantage@aol.com
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