The agreement will also see Odin take over Hilliard’s brands, intellectual properties, and operations.
According to the report, some of the brewing equipment will be moved from Hilliard’s in Ballard to Odin Brewing’s facilities in Tukwila. The Ballard brewery and taproom will then be put up for sale as a “turnkey brewing operation”.
“We are excited about the opportunity of adding the Hilliard’s lineup to our expanding portfolio of products”, Dan Lee, owner Odin Brewing Company said in a Press Release. “This deal will allow us to grow our capacity, improve our packaging capabilities and grow share in an ever expanding market.”
Hilliard’s Beer was founded in 2010 and shortly after set up operations here in Ballard.
According to the report, owner and founder Ryan Hilliard has decided to leave the brewing industry after 6 years and pursue other interests.
“I think the deal reached with Odin Brewing was a good one” Ryan told Seattle PI. “It’s not often that deals like this come along, and when they do you have to be ready to move on them. I have enjoyed my time in the craft beer sector and am thrilled my namesake beer will live on in good hands. The arrangement with Odin also opens the door for a current craft brewery or a new start up brewery to step in to our existing Ballard facility with a separate turn-key arrangement.”
“For the time being we will not be entertaining a piecemeal sale of the assets” says Wes Peterson of Odin Brewing. “We are looking to see if there is an interested party ready to step up and acquire the Hilliard’s facility as-is.”
The financial terms of the agreement have not yet been disclosed.