USA, WA: Craft Brew Alliance selling its Woodinville facility
Craft Brew Alliance, Inc. ("CBA), a leading craft brewing company, announced on December 4 that it has entered into an agreement to sell its Woodinville, Washington facility to Sound Commercial Investment Holdings, LLC for $24.5 million, the Market Insider reported.
The transaction is subject to a financing contingency and other closing conditions that are expected to be resolved by the end of 2017.
As previously announced, the sale of CBAs Woodinville property, which includes a production facility, office space, and restaurant, will complete a key phase in the companys ongoing efforts to optimize its brewery footprint, reduce costs and improve gross margins.
While CBA will provide more information on the financial and operational benefits of the sale at closing, the company anticipates a negative impact on 2017 earnings per share in the range of $0.02 to $0.03 as a result of contingencies and transaction costs directly related to the sale.
E-malt.com, the global information source for the brewing and malting industry professionals. The bi-weekly E-malt.com Newsletters feature latest industry news, statistics in graphs and tables, world barley and malt prices, and other relevant information. Click here to get full access to E-malt.com. If you are a Castle Malting client, you can get free access to E-malt.com website and publications. Contact us for more information at firstname.lastname@example.org .