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One of New York State’s oldest and largest brewing operations, Olde Saratoga Brewing which closed abruptly in January will be auctioned off at the end of August.
A subsidiary of the now closed Mendocino Brewing, Olde Saratoga was just the latest victim of the legal and financial clouds surrounding its notorious owner Vijay Mallya.
The August 28th auction comes as the Indian government continues its efforts extradite billionaire brewery owner Vijay Mallya from London on fraud and money laundering charges that are estimated to be as high as $1 billion.
Vijay Mallya
At its peak, Olde Saratoga was the fourth largest brewery in New York State and produced more than 30 different types of high quality, fresh craft-brewed ales and lagers. In recent year’s Olde Saratoga (which also goes as Saratoga Brewing) has survived largely as a contract operation.
In addition to contracting for Shmaltz Brewing before they started their own brewery in Clifton Park, the facility also brewed Mendocino beers for the East Coast market, and was the US manufacturer for Kingfisher Lager, the flagship beer for the Indian drinks company, the UB Group.
Its live auction being overseen by Tiger Group and Schneider Industries, Olde Saratoga Brewing’s entire holdings is being offered as either a complete turnkey sale piecemeal acquisitions.
The assets include a pristine, 125-barrel-per-day brewhouse, a Krones/Pearson bottling line, an automatic keg washing and filling system, a laboratory and tasting room, and furniture.
Olde Saratoga’s fermentation area features multiple 30-bbl to 500-bbl stainless steel jacketed tanks, a two-tank CIP System, a 40-horsepower stainless steel disc centrifuge, and a diatomaceous earth filter with agitation tank.
“This offering provides a unique opportunity to acquire a full-service brewery at hard asset value,” said John Coelho, Senior Director of Tiger’s Commercial & Industrial division. “The ability to submit piecemeal bids also offers craft breweries, cider making, and other food and beverage manufacturers the opportunity to purchase individual assets at liquidation prices.”
“This equipment provides companies with a tremendous opportunity to either start an operation or add to their current capacity,” added Bruce Schneider, President of Schneider Industries, a liquidation company which represents food and beverage companies around the world.
If you’re interested in any, or all, of Saratoga Brewing’s assets here’s what you need to know…
Bidding will commence August 21 at SoldTiger.com. Bidding will close in rapid succession, live auction style, on August 28th at 11:00 am (ET) and all bidders are required to register prior to the sale.
Previews of the assets are available from 10:00 am to 4:00 pm (ET) on August 27th at 131 Excelsior Ave. in Saratoga Springs.
So say goodbye as another heritage brewing operation bites the dust…and let the bidding begin.
