Big news before we get to New Beer Friday. Yesterday it was announced that That our own Uinta Brewing Company has sold a percentage of their business to The Riverside Company, a private equity firm. Uinta is keeping the terms of the deal under their hat but Uinta's owners wants to stress that the Utah management will retain a significant percentage of the ownership and that founder: Will Hamel will continue to lead the company as Uinta's CEO.
A press release from Uinta states, that due to unprecedented growth, Utah largest brewery lacks the ability to keep doing what they are doing on their own—producing notable craft beer in a sustainable way using quality ingredients and state-of-the-art equipment.
Riverside's website describes itself as a “global private equity firm focused on investing in and acquiring growing businesses valued at up to $250 million.” The company currently has over $4.6 billion currently in assets under management. Riverside Vice President Steve Rice said. “We’re delighted to be part of the next chapter in Uinta’s growth story, and we look forward to working with Will and his outstanding team.”
As a result of the capital injection, significant investments will be made into creating new brands, 19 new jobs, expanding the company’s barrel-aging program and the continued growth of the brewery's expansion.
I guess if you need a better understanding of Uinta's situation a tour of The breweries massive expansion is in order. In an America that has nearly 3,000 breweries and brew pubs you can't competitive without some outside help. As long as our local boys and girls stay in control. I'm good. As always, your feedback is damn important. Please share your thoughts on this news. I invite you to please check out the full press release below. Now, on to New Beer Friday!
It's a goddamn Green Flash Friday! If IPAs are your thing, put on your big boy & girl underoos on - 'cause shit is gunna get resinous up in here!
Green Flash Imperial IPA - didn't try yet.
Green Flash Double Stout- didn't try yet.
Green Flash Green Bullet - The nose is resinous with sweet malts backing things up. Heavy pine, grapefruit, and a bit of caramel. Taste is heavily hopped, lots of bitterness with a solid malty backbone. The bitterness is cut out nicely by the malt backbone. Mouthfeel is heavy and lightly carbonated. Overall, this is a resin pine bomb with lots of sweetness. 10.1% ABV @ The Bayou. - soon Everywhere
Green Flash Hophead Red - The nose has a floral smell with a bit of pine resin and sweet malt. The beer tastes similar to the aroma but is less hoppy. The sweet malts are strong and have a bit of toasty character. The beer also has a strong bitter hop taste with hints of pine resin. The pine lingers in the mouth afterwards. The beer has a medium body with a smooth feel even though it has a full to medium body. Overall, a pretty great red ale. 8.1% ABV @ The Bayou. - soon Everywhere
Green Flash Road Warrior - The nose is of grapefruit, hop resin, and sugary malt. The taste is of caramel, black pepper, toast and spicy rye. Finishes spicy and dry. 9.0% ABV @ The Bayou. - soon Everywhere
Green Flash West Coast IPA - The nose has grapefruit and sweet orange, florals, dank caramel, lemon, and sugar coated a hint of mango. The taste starts with grapefruit and unripened orange. Big florals and a spicy, earthy malts come in next, balancing the bitterness. The finish is very dry and bitter. Alcohol is apparent as it is much above style. 8.1% ABV @ The Bayou. - soon Everywhere
Payette Chubby Squirrel Schwartzbier - Not Tried @ Beer Bar
Petrus Dubble Bruin - didn't try yet. @ The Bayou
The Annex Still has some of their Brett Pale Ale served via Firkin. It's dry-hopped with citra hops and will be tapped at 4pm.
Here's the Uinta Press Release on the new Partnership
Uinta Brewing Company Receives Investment From The Riverside Company
August 28, 2014, Salt Lake City, UT-- After experiencing accelerated growth over the past few years and recently completing a major brewery expansion, Uinta Brewing Company looks long-term with an investment from The Riverside Company. The injection of financial and strategic resources by Riverside will grant Uinta the ability to keep doing what they are doing—producing notable craft beer in a sustainable way using quality ingredients and state-of-the-art equipment.
“I am deeply committed to the Uinta culture, our team, our consumers, and our distribution partners. This investment from Riverside will allow us to expand our distribution, enhance our production capacity, continue our new beer developmentand increase our efforts in getting the word out about Uinta’s fantastic beer,” said Hamill. “In considering our options for growth capital, I spoke with many smart people as it was critical to me that our new partner truly understand craft beer and appreciates what makes Uinta so special. I wanted to make sure that we could continue to build our brand while maintaining the culture and values that have made Uinta the Company it is today. I’m excited to embrace this support from Riverside. Their resources and business acumen, combined with our passion and brewing knowledge will ensure continued momentum for years to come.”
“We’re especially excited to partner with a strong and respected brand like Uinta,” said Riverside Managing Partner Loren Schlachet. “The craft beer movement is expanding significantly and Uinta has enormous growth potential in both new and existing markets.”
Uinta recently completed an $18 million brewery expansion and will continue to invest in expanding its production capacity and distribution footprint. In 2013, the brewery produced nearly 60,000 barrels of beer and 2014 is poised to be another year of record growth.
“With its fantastic beer and branding, Uinta has already won many fans throughout the country,” said Riverside Vice President Steve Rice. “We’re delighted to be part of the next chapter in Uinta’s growth story, and we look forward to working with Will and his outstanding team.”
“I’m extremely proud of Uinta and our team and eager to expand upon our capabilities. The future looks bright for Uinta Brewing and the craft beer industry as a whole and I am very excited to see what’s on tap for us in the coming years,” said Hamill. “The brewery is extremely humbled by the growing enthusiasm for our brand and the Uinta team is ‘hopped up’ to share our beer with more craft beer consumers near and far.”