Smuttynose Brewing Co. is seeking an immediate buyer before it is sold via auction.
The Hampton, N.H.-based brewery is scheduled to be sold at a bank auction on March 9, which will include the Smuttynose brand, its new facility on the Towle Farm in Hampton as well as the Hayseed Restaurant located next to the brewery. The sale is the result of a shift in the market that occurred just as Smuttynose committed to a “major infrastructure investment with the construction of the new production facility.”
“At this time, in order for our company to continue on the path we embarked on back in 1994, Smuttynose needs someone who can provide financial resources that will move the company forward,” said Peter Egelston, owner of Smuttynose, in a post posted on the brewery’s website. “We’re strongly committed to making sure this transition is as smooth as possible, and to help the company’s new owner or partner embark on a successful next chapter for Smuttynose and its wonderful staff.”
According to the post, Provident Bank is managing the auction process, with Epping, N.H.-based James R. St. Jean as auctioneer and Delta Capital in Simsbury, Connecticut as financial advisors.
Smuttynose Brewing Co. was founded in 1994 by Egelston and employees 68 people capable of producing 75,000 barrels of beer a year. Egelston is also co-owner of the Portsmouth Brewery located in downtown Portsmouth that not part of the auction.