Subscriber Benefit
As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe Now
Indianapolis-based Indiana City Brewing Co. announced Friday it is seeking potential buyers for its brewery on the city’s near-east side. The company has tapped New Mill Capital in California to lead the process of finding a new buyer.
The sale would include all equipment, intellectual property and book of business for the brewery.
Indiana City Brewing, 24 Shelby St., opened in 2013 at the 1904 Bottling House, a pre-prohibition-era building that was once part of the Home Brewing Co. campus and now serves as a taproom and event space.
The brewery has since grown to have its beer distributed statewide in grocery and liquor stores, as well as in bars and restaurants.
“We are extremely satisfied with the mark we have made on the local beer scene in Indianapolis over the past 10 years,” founder Ray Kamstra told Inside INdiana Business when asked what led to the decision to sell. “As the founder, I am very proud of the business I have built, and I look forward to seeing it live on, growing and thriving for many more years to come.”
Indiana City currently employs eight people and says the on-site taproom will remain open and fully operational throughout the sale process.
“We are doing all we can to make sure that this change is a positive one for all of our staff,” said Kamstra. “Our team loves the work that they do. It is our hope that this change will be a welcome growth opportunity for them.”
Eric Weiler, managing principal at New Mill Capital, said in a news release the sale is a great opportunity to take over a legacy brand in Indianapolis.
“The proximity to a significant population center and the history of the brand will be an attractive option for a new operator,” said Weiler. “Current statewide distribution can be expanded and the location offers a variety of income streams to interested parties.”
Please enable JavaScript to view this content.
It looks like the marketplace is saying that there are too many breweries these days.
There was/is a listing on Key Auctions for the assets of Fountain Square Brewery to be liquidated in January.
Just curious if anyone knows the actual story there?
Most likely the FSB assets being liquidated are New Day’s. FSB owned New Day and closed it down earlier this year.
Chris C — Thanks…I totally forgot about that. You might be right there…
Article doesn’t really address the obvious question of why the owner is selling…
The owner clearly states that they are satisfied and ready to move on. 10 years, from the ground up is no cake walk. Good for them. They have much to be proud of.
Same thoughts he dodged the question
Agreed with the above statements. The beer is great but they really only offer NEIPA’s. Never see anything else that’s great from them. Questioning the same things, why close.
I’ve had many traditional style beers from Indiana City along with barrel aged and sour beers. They do it all and they do it well. Nowhere in the article does it say that the brewery is closing. As a matter of fact it says the opposite.
I wish the best of luck to the folks at Indiana City. This sounds like a great opportunity for the aspiring brewery owner to take on a top-rated beer brand in the heart of the city.
As a business owner in Indiana for the past 25 years I can sympathize with the owners. Although I am sure they love the daily excitement of creating and growing a successful business it can wear you down. Finding a buyer to continue growing the operation can be a benefit to sellers, buyers and most important employees. I have entertained offers but never an agreement for the simple reason that there have not been enough guarantees of success for my employees. That day may or may not happen but either way it is a win-win. I will always support the small business community.