The Bruery has turned to an outside investor for the first time to help fuel growth.
According to a press release, the Placentia, Calif.-based brewery said it will be receiving an undisclosed capital infusion from Newton, Mass.-based Castanea Partners. The private equity firm has invested in a number of brands in the past, including Jeni’s Splendid Ice Cream, Urban Decay cosmetics, Essentia Water, and drybar.
“We chose to make Castanea a part of Famille Rue because of their talents and their appreciation and understanding of our vision, and because they want to contribute to our continuous improvement,” reads post on The Bruery’s website. “Castanea Partners invests in businesses that have a passionate customer base and a unique position within an industry. While we have plenty of ideas and a strong vision for how we want to grow, our financial partnership with Castanea will afford us the capabilities to realize those dreams and achieve more than we ever could entirely on our own.”
According to The Bruery, Patrick Rue will remain in his current role as CEO, and he and co-owner Mike Rue will “continue to own a significant portion of The Bruery, Bruery Terreux, and Offshoot Beer Co.”
Although specifics of the deal were not disclosed, The Bruery and Castanea Partners expect the deal to close before the end of the month.