USA, TX: Freetail Brewing Co. up for sale

Freetail Brewing Co., San Antonio's second-largest brewery, is up for sale by the ownership group that's controlled the company since 2016, the San Antonio Current reported on January 22.

The 15-year-old business, which launched at North Loop 1604 and Northwest Military Highway with used brewing equipment and a wood-fired brick pizza oven, now includes two restaurant brewpubs, a production brewery and retail distribution in Texas and Colorado.

While Freetail hasn't made a public announcement about its status, a business broker posted the intent to sell on BizQuest, a website connecting buyers and sellers of companies. The brewery isn't named in the posting, but the detailed description can only fit Freetail. That includes mentioning the civic engagement of the brewery as "committed to reversing the extinction of bats."

The company is named for the Mexican Freetail bat found throughout South Texas and has donated proceeds to protecting the creatures.

Freetail officials could't be reached immediately for comment on the BizQuest listing.

A subsidiary of TETCO — a one-time oil and gas marketing firm run by family members of the late Tom E. Turner — took a controlling interest in Freetail in 2016. The TETCO unit infused a significant amount of capital into the brewer and also bought out many of the initial investors.

Freetail founder Scott Metzger left the company as CEO in 2018 and is now president of Craft 'Ohana, which includes Maui Brewing Co. and Modern Times Brewing Co. Founding brewer and Freetail Director of Brewing Operations Jason Davis remained on staff.

According to the BizQuest listing, Freetail's revenue has grown from $2.4 million in 2019 to $3.5 million in 2023. The post forecasts revenue this year of $4.35 million and projects 2024 will mark the company's first year of profitability.

Freetail's large brewery location on South Presa Street recently expanded the number of days and hours it operates. The facility also opened an on-site restaurant. Previously, hours for the taproom were limited.

Late last year, Freetail also struck a deal to expand distribution into Colorado. Freetail and Denver's Strange Brewery have maintained a longstanding collaboration in which its brewers together produce StrangeTail.

Freetail's beers include Soul Doubt IPA, Conserva, Bat Outta Helles, San Antonio Pale Ale and Bowie Bock as well as the multi-award winning La Muerta Imperial Stout and its numerous variations.

23 January, 2024