The private-equity firm Made By The Water will acquire Catawba Valley Brewing Co., which produces Catawba Brewing Co., Palmetto Brewing Co. and Twisp-branded craft beverages.
Made By The Water is a holding portfolio of Wiregrass Equity Partners that is focused on craft beer. Wiregrass is owner/operator of Oyster City Brewing Co., which has locations along the Gulf Coast of Florida and Alabama.
Catawby Valley Brewing was founded in 1999. It has a 30 barrel production facility and tasting room in downtown Morganton, North Carolina and four other on-premise locations in the region.
“I’m just stepping back and turning this over to someone who can take it to where it needs to go,” Billy Pyatt, CEO of Catawba Valley told the Charlotte Business Journal. “It’s something that doesn’t come without a lot of tears and soul-searching on our part.”
Terms of the deal were not disclosed. Full story here.