Appalachian Mountain Brewery entered into a letter of intent to acquire North Carolina Natural Energy Inc., a publicly traded company. North Carolina Natural Energy, a Florida Corp. headquartered in the foothills of North Carolina will change its name to Appalachian Mountain Brewery Inc. and begin trading as a craft brewery. Terms have been agreed upon and approved by both parties with closing expected before year end.
North Carolina Natural Energy provides a wholesale liquor, beer and wine license with the U.S. Alcohol and Tobacco Tax and Trade Bureau (TTB.gov) as well as access to the public markets including a sophisticated shareholder group. Notably, one of its shareholders, Chanticleer Holdings Inc. and its CEO Mike Pruitt, played a key advisory role in facilitating this combination.
“Sean and his team have created international award-winning craft beers that are gaining brand recognition throughout our region,” Pruitt said. “We look forward to showcasing AMB’s craft beers in our restaurants and assisting in its regional distribution. Our company will continue to assist AMB in its growth and expansion to becoming a global brand.”
Sean Spiegelman, founder of Appalachian Mountain Brewery, will be appointed CEO of the publicly traded company and continue to manage the brewery by offering a unique experience through community stewardship and environmental sustainability as a core part of the business. The brewery’s modern equipment uses American-made JV Northwest Brewing equipment, a 5KW array of solar panels to offset electricity along with a recapturing system to save water in the brew process. In keeping with the brewery’s sustainable mission to reduce, reuse and recycle, AMB has a grain exchange program whereby all spent grain is donated to local farms. AMB also has a “Pints For Non-Profits Program,” whereby a portion of proceeds from each beer sold is donated to local non-profit organizations.
Chanticleer Holdings is focused on expanding the Hooters casual dining restaurant brand in international emerging markets and American Roadside Burgers Inc (“ARB”), a Charlotte, N.C.-based chain. Chanticleer currently owns in whole or part of the exclusive franchise rights to develop and operate Hooters restaurants in South Africa, Hungary and parts of Brazil, and has joint ventured with the current Hooters franchisee in Australia, while evaluating several additional international opportunities.
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