Beer Business Daily:
Bill Anderson and his team at First Beverage announced that it has entered into an agreement with Monarch Beverage Company for the development of its new 530k square foot facility in Indianapolis. First Beverage will own the new facility, and Monarch and First Beverage have entered into a long term lease, which includes an option to expand the facility by an additional 400k square feet. The project is estimated at $35million, exclusive of the expansion option. Monarch chief Phil Terry said First Beverage was ‘by far the best source of capital’ for the facility, as the deal was ‘extremely complex’ with its tax incentive financing, says First Beverage.