Castle Brewing Co. in Greenville recently was sold to the majority owners of Big Boiler Brewing in Lowell, according to a statement from Small Business Deal Advisors.
Castle Brewing partners decided to sell the company, citing other business interests demanding more time and attention.
“Thank you, Small Business Deal Advisors,” Castle Brewing Co. said in a statement. “Your confidential marketing efforts were comprehensive and your guidance throughout the process was invaluable. The buyers, with their extensive experience, are a fantastic fit, and we’re excited to watch Castle Brewing enter its next phase of growth.”
SBDA served as an M&A adviser to Castle Brewing. This included providing advisory expertise and managing the preparatory, marketing, due diligence and negotiation phases of the transaction. Terms of the deal were not disclosed.
This is the second time Castle Brewing Co. changed hands. Formerly known as 57 Brew Pub, Castle Brewing was purchased in 2017 by three local investors. The company then was rebranded as “Castle Brewing Co.,” partly in tribute to J.R.’s Roller Castle, a roller rink that operated for many years on the present-day location of the brewpub.
In addition to rebranding the company, the second owners updated the interior, installed digital signage in front of the building and renovated the outdoor space by creating a beer garden complete with an outdoor bar and 12 taps.
The buyer, Hophog LLC, was created by Brent Slagell and Jim Zawacki.
“We are very pleased to be adding Castle Brewing to our family,” Slagell said. “We love Greenville and are looking forward to investing in the community and company.”