Sprecher Brewing Company Sold to Local Investor Group

From Sprecher:

Glendale, Wisconsin – A group of Milwaukee-based investors and Sprecher fans led by Sharad
Chadha have purchased Sprecher Brewing Company from its founder and CEO, Randy Sprecher.
Asked why he decided to sell after thirty-five years, Sprecher replied, “Sharad’s offer presented
the ideal opportunity. It was important to me that Sprecher stay locally owned. This has been my
life’s passion for decades and I want to see the company thrive. With this talented and
experienced group, I’m sure it will.” Sprecher will continue as an investor with the new
ownership group.

Sharad Chadha, a former executive at GE Healthcare, Samsung Electronics, ABB and
Electrolux, will be the Chief Executive Officer of Sprecher Brewing Company.

Others in the ownership group include well known Milwaukee entrepreneurs, and advisors with
significant experience in the consumer-packaged goods and beer industries. Andy Nunemaker
will serve as chairman of the board; Peter Skanavis will be on the board. Industry veteran Jim
Kanter will be part of the investor group and the company leadership team. Angel investors
include Silicon Pastures. Commerce State Bank funded the debt and the investors funded
significant equity to make the purchase happen.

Chadha noted, “Much like Milwaukee, Sprecher Brewery is a little known gem with a great
future ahead of it. Sprecher not only has a diverse portfolio – craft beer, soda, cider, hard seltzer
and sparkling water – it also has the best tasting products in the industry. We want to capitalize
on what Randy built and share these amazing beverages with as many people as possible.
Sprecher Root Beer is a craft beverage icon, and we have the potential to significantly grow the

company.
“We plan on listening to and working with our retail partners, distributor partners, employees,
community and other stakeholders to bring Sprecher beverages within reach of as many people
as possible. With a great local group of investors who are Sprecher fans, we plan to do great
things that make our Milwaukee community and customers proud of our history and heritage of
great tasting quality products.”

Chadha stated, “It is my goal to make Sprecher the craft beverage icon of America.”

About Sprecher Brewing Company
Established in 1985, Sprecher Brewing Company is not only Milwaukee’s first craft brewery
since Prohibition, it is also the most highly awarded brewery, having won numerous national and
international awards including, 2004 Great American Beer Festival® Small Brewing Company
of the Year; several World Beer Cup® medals, including a gold medal for Black Bavarian in
2016. Sprecher produces more than 15 beer styles and nine craft sodas. Sprecher is best known
for its most popular beverage, non-alcoholic Sprecher Root Beer which has earned numerous
accolades from the press and public.

Sprecher is also a proud sponsor of many local activities and events including the Wisconsin
State Fair. It is also the official craft Root Beer of the Milwaukee Brewers. And it has many great
local community partnerships such as the Milwaukee County Parks System and their
summertime Traveling Beer Gardens®.

Sprecher owns and operates a tasting room and visitor center located at 701 West Glendale Ave,
Glendale WI 53209.