In a strategic move to prepare for wholesale distribution of its award winning craft beer, Boone, NC-based Appalachian Mountain Brewery announced today it entered into a letter of intent to acquire North Carolina Natural Energy, Inc., a publicly traded company. North Carolina Natural Energy, Inc., a Florida Corporation headquartered in the foothills of North Carolina will change its name to Appalachian Mountain Brewery Inc. and begin trading as a craft brewery. Terms have been agreed upon and approved by both parties with closing expected before year end.
North Carolina Natural Energy, Inc. provides a wholesale liquor, beer, and wine license with US Alcohol and Tobacco Tax and Trade Bureau as well as access to the public markets including a sophisticated shareholder group. Notably, one of NCNE's shareholders, Chanticleer Holdings, Inc. and its CEO Mike Pruitt, played a key advisory role in facilitating this combination. "Sean and his team have created international award-winning craft beers that are gaining brand recognition throughout our region. We look forward to showcasing AMB's craft beers in our restaurants and assisting in its regional distribution. Our Company will continue to assist AMB in its growth and expansion to becoming a global brand," Mike Pruitt says.
Sean Spiegelman, founder of Appalachian Mountain Brewery will be appointed CEO of the publicly traded company and continue to manage the brewery by offering a unique experience through community stewardship and environmental sustainability as a core part of the business. The brewery's modern equipment utilizes American Made JV Northwest Brewing equipment, a 5KW array of solar panels to offset electricity along with a recapturing system to save water in the brew process. In keeping with the brewery's sustainable mission to reduce, reuse and recycle, AMB has a grain exchange program whereby all spent grain is donated to local farms. AMB also has a "Pints For Non-Profits Program," whereby a portion of proceeds from each beer sold is donated to local non-profit organizations.