27 Jul Reuters: SweetWater Preparing for IPO
Atlanta’s Sweetwater Brewing is reportedly planning to go public.
Reuters, citing sources familiar with the matter, said Sweetwater is “in talks with banks about a stock market flotation that could come later this year and value the company in the hundreds of millions of dollars.”
The news comes just one week after SweetWater made two key executive changes. The company promoted former chief financial officer, Kim Jones, to the position of CEO. At the same time, SweetWater hired Bill Waters, a former Molson Coors executive, to take over as CFO.
If SweetWater were to make a public offering, it would join Boston Beer (SAM) and Craft Brew Alliance (BREW) as the only craft-focused companies currently trading on either of the two major U.S. exchanges — the New York Stock Exchange and the NASDAQ. A handful of craft breweries, including Mendocino Brewing (MENB), Appalachian Mountain Brewing (HOPS) and American Brewing (ABRW) currently trade on the over-the-counter market… CLICK HERE TO READ THE FULL STORY AT BREWBOUND
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