|FOR IMMEDIATE RELEASE
Contact: Fred Forsley 207-450-1104
SEA DOG VENTURES, INC. INTENDS TO PURCHASE SEA DOG BREWING COMPANY PORTLAND, MAINE
(December 11, 2002) --
Portland-based Sea Dog Ventures, Inc. announces their intent to purchase the bankrupt Sea Dog Brewing Company. The sale will be considered this morning, Wednesday, December 11, at a Bankruptcy Court hearing in Bangor.
Sea Dog Ventures, Inc. is owned by a group of Maine business people led by entrepreneur Fred Forsley.
When the financially troubled Sea Dog Brewing Company closed its restaurants in November, Forsley became concerned about the loss to those communities as well as the erosion of the Sea Dog brand in the face of those closures. "I know first hand how much those restaurants are valued by the local communities. The Sea Dog restaurants are an important piece of the Sea Dog brand."
Sea Dog Ventures, Inc. is a separate entity from The Shipyard Brewing Company and Pugsley Brewing Projects, also owned by Forsley.
"Sea Dog Ventures, Inc. is a separate company and, if the sale is approved, will operate with its own distinct mission of strengthening the Sea Dog brand," said Forsley. "Pugsley Brewing Projects currently has a contract to brew and bottle the Sea Dog line and is an altogether separate entity."
If their bid is accepted, Sea Dog Ventures, Inc. will release their plans around reopening the restaurants.
The Sea Dog brand currently offers 7 varieties of beer as well as numerous specialty and seasonal products, including Sea Dog Root Beer. The Sea Dog Brewing Company was founded in 1994.