Tenth and Blake grabs minority stake in Terrapin Beer Co.
Craft Business Daily’s Jennifer Litz reporting..
CBD has obtained an employee-facing e-mail from Terrapin founder John Cochran announcing the brewery’s request that Tenth and Blake convert a portion of their loan to a minority stake in the Athens, Georgia-based company. John told CBD the stake is less than 25%, which will allow them to remain independent by the BA’s standards.
The move is said to give Terrapin more flexibility as it pursues additional financing for a planned expansion. Terrapin took out the loan from Tenth and Blake earlier this year.
via Craft Business Daily (subscription required)
Breweries: Tenth and Blake Beer Co., Terrapin Beer Co.
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