(Program Note: Our very own Anne Fitten Glenn, host of Imbibe Asheville and the woman who literally wrote the book on Beer in Asheville, will be doing a special one hour show today – Friday 11-22-19 – where she will discuss this hot topic. Tune in live at 4pm or check out the podcast on the Imbibe Asheville podcast page.)
(Asheville Citizen-Times) New Belgium Brewing will no longer be employee-owned by the close of the year. Pending approval by regulators, the Employee Stock Ownership Plan and other closing conditions, Lion Little World Beverages should acquire 100% of New Belgium in an all cash transaction by the end of the year.
New Belgium CEO Steve Fechheimer would not disclose the financial terms of the sale, though he did say that, with the addition of a new bottling line, staff numbers are likely to grow at the Asheville brewery.
“(Though) we’re currently 100 percent employee owned, after the transaction we will be completely owned by Little World,” Fechheimer told the Citizen Times via phone from Fort Collins. “This is an opportunity for employees who have been part of New Belgium to realize the benefits of ownership.”
That opportunity will come in the form of cash, New Belgium founder Kim Jordan explained in a release.
Read the entire report by Mackensy Lunsford HERE>