Lake Placid Craft Brewing Sold
Montreal company acquires second Empire State brewery
Montreal-based ICBS has acquired a second New York small-batch brewery.
ICBS announced this week it is buying Lake Placid Craft Brewing Co., which produced 3,300 barrels (a barrel equals 31 gallons) in 2005. ICBS bought Ramapo Valley Brewery in Hillburn earlier this year.
"The acquisition of Lake Placid Craft Brewing will allow us to expand what we have begun with the purchase of Ramapo Valley, these two companies combined quality products will make an impressive mark on the craft brewing industry," said Garth McIntosh, ICBS chief executive.
Why would a business services firm (an outsorce provider) buy breweries? Could they be acting as a front for some other corporation wishing to remain nameless and faceless and unaffiliated with the purchase. Like MolsonCoors or SAB or AB?
Originally Posted by admin
Here is their website. They are a small publicly traded company in Canada.
Hello - Chris Ericson here, owner of Lake Placid Craft Brewing Company and the Lake Placid Pub & Brewery. Lots going on so excuse my brevity but here are some clarifications for everyone out there.
First, the Lake Placid Pub & Brewery (brewpub) in Lake Placid and The Lake Placid Craft Brewing company in Plattsburgh (microbrewery) are two separate companies, both owned by me. The potential transaction with ICBS only involves the Plattsburgh company. The Lake Placid brewpub is not at all affected or changed in any way whatsoever.
Second, we have signed a non-binding letter of intent with ICBS and are in the process of completeing due dilligence on the possible transaction. There has been no official closing of the deal, but we anticipate a closing within the month if we choose to go to closing. A closing would then involve a capital infusion into the company allowing us to expand our capacity in Plattsburgh to the 25-40,000 barrel a year level.
Third, an expansion of the Plattsburgh facility would allow us to fill the orders we currently are recieving from our distributors as well as expand our terriroty. Right now we are filling less than 40% of the orders we receive and have had to let our marketing person go as we have no inventory to market.
SO - in summary, this MAY happen. If it does, it is a great way for us to grow our brand and to improve our product in every sense. If it doesn't we will continue to seek out new capacity to grow the business. And in any event, the brewpub will continue completely as is.
Thanks for your continued support of the Lake Placid beers.