Indiana brewery may buy Oldenberg
Silver Creek puts in offer for well known Kentucky brewery
Sept 7, 1999 - An Indiana brewery has submitted an offer to buy Oldenberg Brewery, the Kentucky brewery known for its "Beer Camp." Oldenberg recently filed for Chapter 11 bankruptcy protection.
Silver Creek Brewing Corp. in Sellersburg, Ind., made the purchase offer subject to approval by the Covington Division of the United States Bankruptcy Court of the Eastern District of Kentucky. The court is overseeing the Oldenberg bankruptcy proceedings. A final decision by the court whether to approve the purchase off is expected later this month.
The offer, for $450,000, includes all brands and brewing equipment of Oldenberg, which is located in Ft. Mitchell, Ky. It does not include brewery-restaurants that Oldenberg owns in Kentucky and Florida.
"We are committed to turning this company around," Oldenberg Brewing president David Heidrich said. "Doing so requires that we make tough decisions, and selling the brewery certainly qualifies as one of them."
Silver Creek president Jeffery A. Compton said complete plans for the future cannot be made until the court approves the sale. However, he anticipates that the breweries in both Ft. Mitchell and Sellbersburg will continue to operate and that there will be no layoffs.
Silver Creek took over Tucker Brewing Co. at the beginning of the year and distributes the Tucker brand beers primarily in Indiana and Northern Kentucky. Oldenberg's primary markets are Southern Ohio, parts of Indiana and Northern Kentucky.
"Oldenberg has enjoyed an excellent reputation among the public and within the microbrewering industry, and deservedly so," Compton said. "They've got a great local following."
Oldenberg's influence extends well beyond its distribution area. The brewery began hosting its Beer Camp in 1992 and consumers and industry members from across the country visited the brewery twice a year until the camp was discontinued.
"We may need to fire that back up," Compton said. "They did a lot to foster awareness of specialty beer."
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