The Employee Stock Ownership Plan (“ESOP”) purchased 10% of the common stock of the Company in a leveraged ESOP recapitalization.

COMPANY
The Company is a regional craft brewery that currently produces five year-round beers, three limited release seasonal ales and numerous specialty beers with limited distribution.

OUR ROLE
Pendo Advisors, LLC served as independent financial advisor to the trustee of the ESOP and provided a fairness opinion in connection with the transaction.