The Smuttynose Brewing Co. has a new owner a week after it was bought at auction for $8.25 million.
Runnymede Investments said Friday it bought the brewery from the Provident Bank for an undisclosed amount. The family-owned firm is five miles from the brewery in North Hampton.
Runnymede teamed up with brewery executive Rich Lindsay, who has held positions with Samuel Adams, Tuthilltown Spirits and Night Shift Brewing, as well as consulting roles with startups in the alcoholic beverage industry.
Lindsay said there are plans to add personnel to Smuttynose’s sales team and invest in a canning line.
Smuttynose employs 66 people. The company said the brewery is capable of producing 75,000 barrels and generating more than $10 million annually. However, in the last year it has been running at 50 percent capacity.
Associated Press