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A brewery can be a taproom restaurant, a production plant, a distribution book, or all three poorly glued together. Buyers—and lenders—underwrite them separately. Taproom food and events follow restaurant logic. Tanks, cellar, and packaging follow manufacturing logic. Self-distribution or a wholesaler relationship follows alcohol-regulatory logic. One asking price that ignores those splits does not survive diligence.
Federal and state permits, brand registrations, and territorial agreements often take longer than the purchase agreement. A taproom lease with a landlord who never planned for a manufacturing tenant is a common late surprise.
Barrelage, capacity utilization, and whether flagship SKUs still move without the founder’s personality in the taproom. Contract brewing and alternating-proprietorship arrangements need contracts a successor can keep. Inventory—kegs, packaged beer, and hops on contract—must be counted at something a buyer will actually drink or sell, not at last year’s optimism.
Debt on tanks and a sale-leaseback on the building change proceeds more than a headline multiple. We map liens and landlord consent early.
Quality walks out with the brewer if there are no cellar notes, water reports, or a second person who has made the flagship. Distributors can reopen terms on a change of control. If you want to keep a small brand or a side project, say so before we market. Competing with your own buyer after close is how lawsuits start.
Request a confidential consult or call (352) 515-0226. We will tell you whether a sale is realistic before you go to market.