SAN DIEGO, January 21, 2022 (Newswire.com) - Loeb Equipment ("Loeb") today announced that, in partnership with Heritage Global Partners ("HGP") and Blackbird Asset Services ("Blackbird"), it will be conducting a sale of Green Flash Brewing Company's ("Green Flash") San Diego brewing facility, capable of 100,000 barrel production.
"This is a once-in-a-lifetime opportunity to acquire a world-class brewery in one of the quintessential microbrewery locations in the world. The replacement cost to build a facility of this caliber is obscene," said Howard Newman, President of Loeb. "The Green Flash opportunity provides everything the buyer would need to be up and running right away. It's the type of sale that you don't see very often."
The facility has 100,000 barrel production total capacity and can produce bottles, cans, and draft package, while also having the capability to produce flavored malt beverages, seltzers and other ready to drink products. The facility features a 50 Barrel Mueller brewhouse that is only eight years old, with over 40 fermentation and bright tanks supporting the products. There is also a 5 Barrel Premier Stainless brewhouse onsite for small batches and pilot runs.
The turnkey sale process is currently ongoing as Loeb, HGP and Blackbird are actively seeking and negotiating offers from buyers who can re-start the brewery in place, while negotiating a new lease, or for the potential to relocate the brewery.
"There is strong confidence that a turnkey buyer will be found and operations will continue at the site," Nick Dove, President of HGP stated. "The benefit of taking over the site is you get all the engineering and the installed value and the infrastructure that you would never get in an equipment only liquidation."
David Fiegel, President of Blackbird added, "In 2018, our partnership successfully sold Green Flash's Virginia Beach location as a turnkey site to New Realm, and we're confident we can repeat that outcome with this state-of-the-art San Diego site."
Interested parties are encouraged to visit the site and provide offers as soon as possible.
About Loeb Equipment
Since 1880, Loeb has been providing equipment sales, purchases, rentals, leasing & liquidations, USPAP-compliant market appraisals, auction services & asset disposition, and equipment financing. Loeb's name has been associated with Processing and Packaging Machinery for the Food, Pharmaceutical, Cosmetic and Chemical Industries.
Heritage Global Partners, Inc. Is a subsidiary of Heritage Global Inc. (NASDAQ:HGBL) and one of the world's largest industrial auction firms, providing asset valuation, acquisition and disposition services.
About Heritage Global Inc.
Heritage Global Inc. (NASDAQ: HGBL) is an asset services company specializing in financial and industrial asset transactions. The company provides a full suite of services including market making, acquisitions, dispositions, valuations and secured lending. Heritage Global focuses on identifying, valuing, acquiring and monetizing underlying tangible and intangible assets across twenty-eight global sectors. The company acts as an adviser, as well as a principal, acquiring or brokering turnkey manufacturing facilities, surplus industrial machinery and equipment, industrial inventories, accounts receivable portfolios, intellectual property, and entire business enterprises.
About Blackbird Asset Services, LLC
Williamsville, NY-based Blackbird Asset Services, LLC is a boutique auction and valuation firm providing asset recovery solutions and certified appraisals to asset-based lenders and legal professionals nationwide.
Source: Green Flash Brewing Company