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Sprecher Brewing sold to local investors By Andrew Weiland, staff writer A group of Milwaukee-based investors led by Sharad Chadha has purchased Glendale-based Sprecher Brewing Co. Inc. from its founder and chief executive officer, Randy Sprecher. Sprecher established the brewery, which has 60 employees, in 1985. “Sharad’s offer presented the ideal opportunity,” Sprecher said. “It was important to me that Sprecher stay locally owned. This has
been my life’s passion for decades and I want to see the company thrive. With this talented and experienced group, I’m sure it will.” Sprecher will continue as an investor with the new ownership group. Chadha, a former executive at GE Healthcare, Samsung Electronics, ABB and Electrolux, is the new chief executive officer of Sprecher Brewing Co.
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“It is my goal to make Sprecher the craft beverage icon of America,” Chadha said. Others in the new ownership group include prominent Milwaukee entrepreneurs and advisors with experience in the consumer-packaged goods and beer industries. Andy Nunemaker will serve as chairman of the board; Peter Skanavis, the owner of Homeowner Concept Realtors, will be a member of the company’s board. Brewing industry veteran Jim Kanter, a longtime marketing executive with MillerCoors, will be part of the investor group and the company leadership team. Angel investors involved in the deal include Wauwatosa-based Silicon Pastures. West Bend-based Commerce State Bank funded the debt and the investors funded significant equity for the purchase. “Much like Milwaukee, Sprecher Brewery is a little-known gem with a great future ahead of it,” Chadha said in a news release. “Sprecher not only has a diverse portfolio – craft beer, soda, cider, hard seltzer and sparkling water – it also has the best tasting products in the industry. We want to capitalize on what Randy built and share these amazing beverages with as many people as possible. Sprecher Root Beer is a craft beverage icon, and we have the potential to significantly grow the company.”
“We plan on listening to and working with our retail partners, distributor partners, employees, community and other stakeholders to bring Sprecher beverages within reach of as many people as possible,” he added. “With a great local group of investors who are Sprecher fans, we plan to do great things that make our Milwaukee community and customers proud of our history and heritage of great-tasting quality products.” In an interview with BizTimes Milwaukee, Chadha said Sprecher’s beer sales are not growing due to the highly competitive nature of the craft beer industry. Moving forward, he said the new ownership group plans to leverage Sprecher’s brand and expand distribution of its “mainstay” beverages to other states. “(Those include) our root beer, our craft soda and new sparkling water and hard seltzers,” Chadha said. “Those are the categories that are growing extremely fast.” The company needs to adapt to the changing tastes of consumers, which appear to be shifting more towards healthier beverages, Chadha said. “It’s more premium, calorie consciousness, healthy and things like that,” he said. n BizTimes Milwaukee reporter Brandon Anderegg contributed to this report.
