Milwaukee's Sprecher Brewing Company Sold To Investors

GLENDALE, WI — The owner of Milwaukee-based craft brewery Sprecher has sold the popular maker of soda and beer to a group of investors in Milwaukee.

In an announcement Friday, Sprecher founder and CEO Randy Sprecher said he decided to sell the business to a group led by Sharad Chadha.

Asked why he decided to sell after 35 years, Sprecher said "Sharad’s offer presented the ideal opportunity. 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.” he said in a news release.

Chadha, a former executive at GE Healthcare, Samsung Electronics, ABB and Electrolux, will be the Chief Executive Officer of Sprecher Brewing Company.

Andy Nunemaker will serve as chairman of the board; Peter Skanavis will be on the board. Industry veteran Jim Kanter will be part of the investor group and the company leadership team. Angel investors include Silicon Pastures, Sprecher said Friday.

Commerce State Bank funded the debt, and the investors funded significant equity to make the purchase happen, Sprecher said Friday.

“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," Chadha said in a news release Friday.