Massachussets-area private equity firm Castanea Partners has bought a majority share of The Bruery, a Southern California brewery known for its esoteric beers. In announcing the deal on its website the brewery stated it will “enable us to continue to grow in ways consistent with our ideals.”
“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,” CEO Patrick Rue wrote. He and his father, Mike, started the The Bruery in 2008. The Rues expect to sell about 13,000 barrels in 2017, much of it directly to customers.
The brewery answered the question about why it would make the deal with a private equity firm this way: “The Bruery started out as a very small operation, and nine years later we’ve transformed into a proud leader in specialty craft beer. We’ve had plans for growth, some of which you have seen realized over the past couple of years, with the implementation of our more efficient brewhouse, our new packaging hall for our clean beer, and the extension of our sour and wild program into our Bruery Terreux brand and facility.”
The companies Castanea has invested in include Jeni’s Splendid Ice Cream, Urban Decay cosmetics, Essentia Water, and drybar.