Ruckus Brewing Prepares To Close On Former Neuweiler Brewery
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MyBeer Buzz
From the Morning Call:
It has taken them a full year, but Ruckus Marketing has raised the cash it needs to close on its purchase of Allentown’s historic Neuweiler brewery.
The New York-based marketing firm, which owns Ruckus Brewing and wants to rehab the North Front Street brewery so it can brew its beer and other beers there under contract, has secured financing from unidentified private investors to close on the property as early as Friday.
"It is a step ahead we have to take. The town has been very supportive," Ruckus CEO Josh Wood said.
The Allentown Commercial Industrial Development Authority agreed Tuesday to give Ruckus up to three years from closing to complete at least $3 million in improvements before a "reverter" clause kicks in, allowing the authority to buy the property back for a fraction of the $1.7 million sale price.
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