City Brewing Successfully Closes Strategic Transaction to Advance Leadership in the Beverage Manufacturing Industry

By: City Brewing Company, LLC via Business Wire

August 27, 2025 at 09:07 AM EDT

Transaction Reinforces Company’s Financial Position Through Significant Debt Reduction and New Capital Investment

Company to Continue Investments in Operational Excellence and Accelerate Growth Initiatives in Alcoholic and Non-Alcoholic Beverage Segments

Company Welcomes New, Experienced Board of Directors as Executive Chairman David Taylor Steps Down

Current Management Remains in Place to Lead Company’s Next Chapter Under New Ownership

City Brewing Company, LLC (“City Brewing” or the “Company”), one of the largest independent co-manufacturers of beer, flavored malt, ready-to-drink, and non-alcoholic beverages in the United States, today announced the successful completion of a fully consensual transaction (the “Transaction”) with a highly supportive group of its financial partners. The Transaction meaningfully strengthens City Brewing’s financial foundation by significantly reducing the Company’s debt, enhancing liquidity, and positioning the Company for sustainable growth and long-term operational stability.

As part of the Transaction, City Brewing ownership has transferred to a group of the Company’s existing lenders. The Company’s new ownership group is confident in City Brewing’s go-forward strategy, growth potential, and ability to build on its legacy as a premier beverage producer.

“As we transition to new ownership, I look forward to working closely with our new partners to steward City Brewing into its next chapter,” said Ross Sannes, Chief Executive Officer. “With a stronger financial position and clear strategic vision, we are well-positioned to continue serving as the go-to producer in the beverage manufacturing space while pursuing sustainable growth in the years ahead. I am thankful for the dedication of our team, the support of our financial partners, and the continued trust of our customers, all of which have brought us to this milestone.”

Additionally, David (“Dave”) Taylor has stepped down from his position as Executive Chairman of City Brewing. Taylor will continue to support the business in the near-term to facilitate a seamless transition. The Company’s remaining executive team, led by Sannes, will continue to lead the business alongside a new Board of Directors, ensuring continuity for its teams, customers, and partners.

“Dave has been an instrumental member of the City Brewing team, and we are deeply grateful for his leadership,” continued Sannes. “We will build upon Dave’s many contributions as we continue to strengthen our position as an industry leader in beverage manufacturing.”

In connection with this announcement, City Brewing is also welcoming new members to its Board of Directors, who bring significant expertise across the beverage and co-manufacturing industries and will partner with management to advance the Company’s strategic objectives. Joining Sannes on the Board, subject to completion of standard background checks, are the following members:

David J. Colo: With decades of experience in the food and beverage industry, Colo has served as President and CEO of both MGP Ingredients and SunOpta, respectively, and was in senior leadership roles at companies such as Diamond Foods, ConAgra Foods, and Nestlé-Purina.

Derek Hopkins: Hopkins has spent more than 30 years at the highest levels of the beverage industry across the US, Canada, and Europe. Hopkins most recently served as President, US Refreshment Beverages at Keurig Dr. Pepper (KDP), and has held senior roles at Bacardi, The Coca-Cola Company, AB InBev, and Guinness Diageo. He also served as the Vice Chairman of the American Beverage Association.

George Parke: Parke is a founder of law firm Bosshard Parke and an accomplished lawyer, business executive, and real estate developer. He previously served as the Chairman of the Board and Chief Executive Officer of City Brewing from 2007 to 2021, overseeing, alongside an incredible team of managers and colleagues, a period of significant expansion and success for the business.

Michael Wartell, CFA: Wartell is President of Bluerose Associates and has served as a member of the City Brewing board since 2024. Wartell brings a strong track record of working with management teams to create value as an independent director for both public and private corporations.

Advisors

Sullivan & Cromwell LLP served as legal advisor, Evercore served as investment banker, FTI served as financial advisor, and C Street Advisory Group served as strategic communications advisor to City Brewing.

Gibson, Dunn & Crutcher LLP served as legal advisors and Perella Weinberg Partners served as investment banker to an ad hoc group of term lenders.

Freshfields LLP served as legal advisor and BRG served as financial advisor to an ad hoc group of revolving lenders.

About City Brewing & Beverage

City Brewing & Beverage is the premier full-service co-manufacturer in the United States, providing co-packing solutions to top beverage brands across Hard Seltzer, Traditional Flavored Malt Beverages (FMB), Beer, Spirit-Based Ready-to-Drink (RTD), and premium non-alcoholic categories. Operating state-of-the-art facilities in La Crosse, WI; Memphis, TN; Latrobe, PA; and Irwindale, CA, City Brewing has served as the go-to producer for companies seeking scale, quality, and innovation for over 25 years. Built on a foundation of approachable expertise, integrity, and strong customer partnerships, City Brewing is committed to driving growth for beverage brands while supporting the long-term success of its people, communities, and the industry at large.