Saratoga Brewing
Situation
At its peak, Saratoga was the fourth largest brewery in New York State and produced more than 30 different types of high quality, fresh craft-brewed ales and lagers. Following the closure of the New York subsidiary of California-based Mendocino Brewing, the assets were offered as a turnkey operation or on a piecemeal basis.
Tiger’s Vision
Tiger conducted a live online auction of the complete brewing operations, including a pristine, 125-barrel-per-day brew house, a Krones/Pearson bottling line, an automatic keg washing and filling system, a laboratory and tasting room, and furniture.
Outcome
Tiger sold the entire plant to an investor group that planned to operate the plant in place. Recoveries far exceeded forced liquidation value, which well surpassed the client’s expectations, and helped return the building to the landlords in compliance with strict lease requirements.
A diverse pool of global prospects from across the US, Canada and South America participated in the sale, including 13,000 unique visitors to the Tiger bidding site, and 59 active bidders.