GLENDALE — A group of Milwaukee-based investors, led by Sharad Chadha, purchased Sprecher Brewing Company from its founder and CEO, Randy Sprecher, who owned the company for 35 years.
"Sharad's offer presented the ideal opportunity," said Sprecher in a statement. "It was important to me that Sprecher stay locally owned. This has been my life’s passion for decades and I want to see the company thrive. With this talented and experienced group, I'm sure it will."
Chadha will be the new CEO of Sprecher Brewing Company. Sprecher will continue as an investor with the new ownership group, which includes well-known Milwaukee entrepreneurs and advisors.
"We plan on listening to and working with our retail partners, distributor partners, employees, community and other stakeholders to bring Sprecher beverages within reach of as many people as possible," said Chadha in a statement. "With a great local group of investors who are Sprecher fans, we plan to do great things that make our Milwaukee community and customers proud of our history and heritage of great tasting quality products."