The Milwaukee group that recently acquired Wisconsin’s Sprecher Brewing Company paid about $3.24 million for a brewery building and a neighboring property, Biz Times reported.
Signage posted outside the Sprecher Brewing building in Glendale, Wisconsin
An affiliate of the ownership group, Sprecher Property LLC, acquired the brewery building at 701-711 W. Glendale Ave. for $2.41 million and the neighboring property at 725 W. Glendale Ave., which includes a 33,900-square-foot office building, for $825,000, state records show. The real estate sales closed on January 31st and the transaction was recorded with the state on Monday. Both properties were sold by Sprecher Brewing Company LLC.
The two properties have a total assessed value of $2.78 million, according to city records.
Just a week ago, a Milwaukee-based investor group led by Sharad Chadha acquired the 35-year-old company, which makes craft beer, hard seltzer, soda and sparkling water, from Randy Sprecher, who founded the brewery in 1985 and plans to retire, while maintaining a stake in the business as an investor.
About Sprecher Brewing Company
Sprecher Brewing Company is a brewery in Glendale, Wisconsin. It was founded in 1985 in Milwaukee by Randal Sprecher, and is Milwaukee’s first craft brewery since Prohibition. Sprecher produces an assortment of beers, flavored malt beverages, and sodas. Sprecher produces another line of beers under its Chameleon Brewing Company label that is well-respected but not widely available. Despite producing a full range of award-winning craft beers, the brewery is arguably best known for its Black Bavarian (Schwarzbier) and premium sodas. Sprecher brews more root beer than all of its alcoholic beers combined. Read More
