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Tuesday, November 6, 2007

Lion deal updates

Details are trickling in.

It is two soda guys: Ron Hammond and Cliff Risell, two former Coca-Cola bottling senior executives, backed by Blue Point Capital Partners, an Ohio-based investment company. Hammond and Risell collectively have "over 50 years of experience in the beverage industry."

Chuck Lawson and Pat Belardi -- former owners and CEO and CFO, respectively -- will continue on for the time being.

More, from the Times Leader:

“Certainly we want to grow the business,” Hammond said Tuesday afternoon. He said employees should not be affected by the change in ownership and that former owners Chuck Lawson and Patrick Belardi would continue to be involved.

Lawson led the 1999 purchase of the brewery that opened in 1905, paying $18.5 million. Hammond declined to provide the price he and Risell paid.

Love to know that price. One of my sources is guessing $30 million.

So far, all good. And no, folks, no Pabst, no Southampton, and no Yards.


Anonymous said...

Howdy Lew,

Bit of a disappointment, couldn't find any of those New Holland beers today...:(

But, as a side note, I was told by the owner of half-Time beverage in Poughkeepsie that Steg 150 isn't available in NY anymore, any clarification/news about that???

Lew Bryson said...

Sorry about that New Holland thing. From what I've been told by Stan "Appellation Beer" Hieronymus, it may have been a one-shot, too.

Don't know about the Steg 150 in NY, but I have been told that sales are down and not a nickel has been spent on promotion. Unfortunate. Maybe the new owners will turn that around.

Lew Bryson said...

Clarification, Bill: according to a reader who talked to his Lion rep, there was no 'official' NY distribution, and any Steg 150 you saw in NY would have been 'gray market,' which is kinda interesting that they brought in Steg 150 that way, eh? Sorry.