A press release from Catawba Brewing Co. has announced that the Pyatt family’s Morganton, N.C. company has purchased Palmetto Brewing Co. and the two companies are now be joined into a single entity, but Palmetto will retain the same name.
“By the end of 2017 … the Pyatt family will retain 100 percent ownership,” the press release says.
“The closer we became to Palmetto’s owners, the Lipov family, the more we realized our two companies were very similar,” says owner Billy Pyatt. “Palmetto will produce around 16,000 barrels in 2017, and Catawba will produce around 17,500. Their culture is one of giving back to the employees and the communities served, and their attention to customers mirrors ours.”
The release goes on to cite increasing market consolidation, product proliferation, and cost pressure as making it harder for small independent breweries to operate. “The scale and scope of this new, combined entity will help us stay on our trajectory,” says Pyatt.
A $1 million capital plan for both breweries will be put in place immediately to improve facilities, upgrade equipment, and hire personnel.
Palmetto was opened in Charleston in 1993 by Ed Falkenstein and Louis Bruce. It was the first brewery in the state since Prohibition. [location-1]
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