Beer Business Daily:
Total Beverage Solution of South Carolina today announced that it has agreed to acquire the Nectar Ales portfolio of beers from Firestone Walker Brewing Company of California.
“It is sad to let these beers go, but production and operational demands require us to focus on our core line of Firestone beers in the years ahead,” said Adam Firestone, co-founder of Firestone Walker Brewing Company.
“Nectar Ales was always a labor of love and our nod to keeping a pioneer of the California craft revolution alive. It’s now time, however, for this iconic family of beers to become something more than we are able to provide,” added co-founder David Walker.
Nectar Ales originated in Humboldt County, CA early in the craft beer revolution. When production issues forced the small brewer to seek out a partner, Firestone Walker Brewing Company stepped in and owned and grew the brand for nearly a decade.
Founded in 2002, Total Beverage’s portfolio includes such brands as Germany’s Weihenstephan beer and Birra Moretti. Dave Pardus, CEO and president of Total Beverage Solution, said, “This acquisition provides us with a West Coast craft beer brand presence in addition to the two existing East Coast craft breweries, Shipyard Brewing and Southampton Ales & Lagers, that we currently work with. We intend to invest in and accelerate the growth of Nectar Ales as a TBS-owned brand.”
First Beverage Financial, a division of First Beverage Group, acted as exclusive financial advisor to Firestone Walker in this transaction.