Palmetto Brewing acquired in larger multi-state deal

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Palmetto Brewing Co. in Charleston has been acquired as part of a bigger deal for its parent company, Catawba Valley Brewing Co. in North Carolina.

The deal reached puts Catawba Valley brands in Florida, North Carolina and Charleston into the portfolio of Made by the Water LLC, which is owned by Wiregrass Equity Partners and operator Oyster City Brewing Co., the company said in a news release.

Catawba Valley was founded in 1999 and today includes five brewing sites and six tasting rooms. The deal to acquire Catawba Valley Brewing Co. includes Palmetto, Catawba and Twisp brands. Palmetto Brewing is located at 289 Huger St. in Charleston.

Billy Pyatt, older brother and CEO of Catawba, said the time had come to sell the business and that the Wiregrass team was a good fit for the acquisition.

“Their business model, a great mix of tasting room retail and wholesale sales, almost exactly mirrors ours,” Pyatt said. “They value our people, markets, customers, and most of all, our culture.”

Alexi Sekmakas, CEO of Made by the Water said the company was founded on local engagement, strong products and people who wanted to make a difference.

“Over the last several years, we’ve proudly grown Oyster City Brewing Co. from a humble corner taproom to an entrenched regional brewery with locations and influence across the Gulf Coast of Florida, and Alabama,” Sekmakas said. “As we unify, we seek to continue developing on the incredible vision of Catawba and Palmetto Brewing to form a Southeastern craft beer family that is authentically deep in the shallows.”

The companies did not disclose the terms of the acquisition.