Westlake Securities Advises on Sale of Drafft Root Beer
AUSTIN, Texas, Feb. 2, 2021 /PRNewswire/ -- Westlake Securities, Austin’s leading middle- market investment bank, announced today that it served as the exclusive M&A advisor in the asset sale of Dallas-based beverage company, Drafft Root Beer, Inc. (the “Company”).
Drafft Root Beer, Inc., a multi-generational family-owned business founded in 1969, is a premium beverage business that specializes in the manufacturing and co-packing of beverage concentrates, mixes and syrups. The Company will join the growing family of consumer- packaged goods businesses developed and managed by Rockport Ventures including Strange Land Brewery, Greenbelt Kombucha, Texas Saké Company and Sneaky Chef Foods.
“Our investment banking business is built around helping founder and family-owned businesses conduct these types of transactions,” stated Westlake CEO Matt Andersen. “We were pleased to bring these two companies together and to help both bring their visions to fruition.”
Nathan Klatt, Rockport Ventures Partner, commented on the transaction: “We are excited to build on Drafft’s 50-year legacy by solidifying relationships with our current customers and developing new product lines and sales channels.”
Managing Director Mark Austin led the transaction on behalf of Westlake Securities.
For more information, please visit: www.westlakesecurities.com.
About Westlake Securities
Westlake Securities is a middle-market investment bank founded in 2003 and headquartered in Austin, Texas. Westlake delivers superior execution and results to its clients with deep transactional experience, comprehensive technical analysis and hands-on involvement of our senior professionals. For more information, please visit: www.westlakesecurities.com.
About Rockport Ventures
Rockport Ventures is a management team of owners and operators that launch, lead and grow craft food and beverage brands and businesses. For more information, please visit: www.rockportinvestpartners.com/rockport-ventures.
SOURCE Westlake IB, LLC
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