{"id":18529,"date":"2016-02-16T14:50:10","date_gmt":"2016-02-16T19:50:10","guid":{"rendered":"http:\/\/kennetttimes.com\/?p=18529"},"modified":"2016-02-16T14:50:10","modified_gmt":"2016-02-16T19:50:10","slug":"victory-announces-merger-with-southern-tier","status":"publish","type":"post","link":"https:\/\/kennetttimes.com\/?p=18529","title":{"rendered":"Victory announces merger with Southern Tier"},"content":{"rendered":"

\"VictoryMerger\"<\/a>DOWNINGTOWN \u2014 Having just marked <\/span>20 years in the craft brewing industry, Victory Brewing Company <\/span>(Victory) proudly announces a landmark alliance with Southern Tier Brewing Company <\/span>(Southern Tier) under parent company <\/span>Artisanal Brewing <\/span>Ventures (ABV). As <\/span>the first major transaction of 2016 within the rapidly evolving craft beer industry, this union presents a new model <\/span>for craft beer partnerships by preserving brewery <\/span>independence while pooling deep collective resources.<\/p>\n

The new strategic framework <\/span>between ABV, <\/span>Victory and Southern Tier provides capital, security and vision for the future. ABV, <\/span>formed to unify independent craft brewers <\/span>and distillers, embraces <\/span>the collaborative craft spirit while administering crucial growth resources. Arlington Capital Advisors acted as exclusive financial consultant to Victory. Wells Fargo’s Beverage <\/span>Finance group provided capital to support the investment and continued growth at ABV. <\/span>The transaction is expected to close within the next 60 days.<\/p>\n

Under <\/span>the umbrella of ABV, <\/span>Victory and Southern <\/span>Tier will independently operate their breweries, commanding <\/span>a joint capacity of over 800,000 barrels of potential annual production. This alliance creates one of the largest brewers <\/span>in the Northeast and ranks within the top 15 craft brewing companies in the United States according to Brewers <\/span>Association criteria with combined 2015 <\/span>shipments of over 250,000 barrels. With a world-class roster of complementary beer brands and an even stronger standing in the marketplace, ABV <\/span>will shepherd Victory and Southern Tier in collaborative sales and marketing efforts to strengthen, support and expand its distributor and retail partnerships. Victory and <\/span>Southern Tier brands will become <\/span>increasingly available to loyal and new consumers <\/span>across their combined markets as a direct result of this union.<\/p>\n

\u201cThe craft beer community is at its most <\/span>critical moment <\/span>since its inception as larger brewing corporations have bought into our grassroots movement, <\/span>irrevocably changing the marketplace. Like-minded brewers <\/span>such as Victory and Southern Tier can preserve our character, culture and products by banding <\/span>together,\u201d said Bill Covaleski, Founder and Brewmaster <\/span>of Victory Brewing Company. <\/span>\u201cAllied we <\/span>can continue to innovate and best serve the audience who <\/span>fueled our growth through their loyal thirst.\u201d<\/p>\n

“Having gotten to know Phin, John and the whole management <\/span>team, I am more <\/span>excited than ever about the innovations that lie in our collective futures. One <\/span>walk through their brewery <\/span>and I knew that Southern Tier had the same <\/span>belief in quality and excellence that has driven our culture for 20 years,\u201d explains Ron <\/span>Barchet, COO <\/span>of Victory Brewing Company.<\/span><\/p>\n

The Victory and Southern Tier leadership teams and employees will remain intact. Bill Covaleski and Ron Barchet <\/span>of Victory, who <\/span>will become <\/span>significant shareholders in ABV, <\/span>will join the Artisanal Brewing Ventures\u2019 Board <\/span>of Directors. CEO <\/span>John Coleman <\/span>and CFO <\/span>Bill Wild will lead ABV’s management team.<\/span><\/p>\n

\u201cThis is exactly the kind of alliance we <\/span>imagined when we <\/span>created Artisanal Brewing <\/span>Ventures in 2014,\u201d said Phin DeMink, <\/span>founder of Southern <\/span>Tier Brewing Company <\/span>and also a major shareholder in ABV. <\/span>\u201cThis is a concept that was <\/span>specifically designed by and for craft brewers, <\/span>so we <\/span>can focus on the things we\u2019re best at while creating meaningful\u00a0scale advantages. I\u2019m proud to see this model <\/span>validated and am grateful that my <\/span>friends Ron <\/span>and Bill have become <\/span>our partners.\u201d<\/p>\n

\u201cThis is the ultimate craft beer collaboration. It is an honor to be associated with these pioneering entrepreneurs who <\/span>have been contributing to the industry since craft\u2019s early days,\u201d said John Coleman, CEO <\/span>of ABV. <\/span>\u201cI look forward to guiding these two truly great organizations forward as they collaborate, innovate and share best practices.\u201d<\/p>\n

\u201cI believe this is a watershed transaction for the craft brewing world. This union of two great regional players preserves <\/span>their independence and distinct cultures while sharing administrative and management <\/span>functions to support deeper investment in sales, marketing and innovation,\u201d commented Vann <\/span>Russell, Managing Director and Founder of Arlington Capital.<\/p>\n","protected":false},"excerpt":{"rendered":"

DOWNINGTOWN \u2014 Having just marked 20 years in the craft brewing industry, Victory Brewing Company (Victory) proudly announces a landmark alliance with Southern Tier Brewing Company (Southern Tier) under parent company Artisanal Brewing Ventures (ABV). As the first major transaction of 2016 within the rapidly evolving craft beer industry, this union presents a new model […]<\/p>\n","protected":false},"author":1,"featured_media":18528,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,4],"tags":[88,15,7126,1647],"class_list":["post-18529","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-featured","tag-beer","tag-chester-county","tag-southern-tier","tag-victory-brewing-company"],"_links":{"self":[{"href":"https:\/\/kennetttimes.com\/index.php?rest_route=\/wp\/v2\/posts\/18529","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/kennetttimes.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kennetttimes.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kennetttimes.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/kennetttimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=18529"}],"version-history":[{"count":0,"href":"https:\/\/kennetttimes.com\/index.php?rest_route=\/wp\/v2\/posts\/18529\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/kennetttimes.com\/index.php?rest_route=\/wp\/v2\/media\/18528"}],"wp:attachment":[{"href":"https:\/\/kennetttimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=18529"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kennetttimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=18529"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kennetttimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=18529"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}