Business
Mendocino Hires Gordian for Strategic Additional Financing
Mendocino Hires Gordian for Strategic Additional Financing.
About this update from Mendocino Brewing Co
[{"type":"text","content":"\n \n Mendocino Brewing Company, Inc. (“Mendocino”) (OTCQB:MENB), a leading \n international craft brewer, announced today it has retained Gordian \n Group, LLC, a leading independent investment banking firm, to raise \n additional financing for the Company.\n \n \n Chairman Vijay Mallya said, “We are very interested in supporting our \n fine products with fresh outside capital. Our employees, customers, and \n suppliers deserve no less.”\n \n \n He continued, “Our Board believes that sourcing additional capital is a \n key next step in increasing shareholder value, providing a strengthened \n balance sheet, planning for the long-term financial health of the \n enterprise, and to upgrade the facilities and fuel the growth of \n Mendocino, all in an effort to ensure our storied brand and quality \n products are enjoyed by the growing craft beer market for years to come.”\n \n \n He concluded, “We are delighted to have retained Gordian Group, and \n their external solicitation process is commencing.”\n \n \n About Mendocino\n \n \n Originally founded as the Hopland Brewery in 1983 by homebrewers Michael \n Laybourn, Norman Franks, and John Scahill, Mendocino Brewing Company, \n Inc. became the first Brewpub in California since Prohibition and the \n second in the United States. From its origins brewing its iconic Red \n Tail Ale and selling it in 750ml champagne bottles, Mendocino has \n expanded over the past 30-plus years into an international operation \n that sells over 125,000 barrels of beer annually under multiple \n well-known and respected brand names. The Company’s rich heritage and \n established brands have enabled it to become a pioneer of the American \n Craft Beer Renaissance which has seen the number of craft breweries in \n the U.S. expand to over 4,000, of which Mendocino was one of the \n originals.\n \n \n Mendocino operates brewing facilities in California and New York and has \n the rights to produce, market, and distribute Kingfisher, a popular \n international premium lager, in North American and European markets. In \n addition, its unique, dual-coast presence and extra brewing capacity \n allow the Company to engage in contract brewing arrangements, ensuring \n that a new generation of craft brewers can bring their beer to \n consumers. Mendocino’...