Catawba Brewing Co. to Purchase Palmetto Brewing

This is an unedited press release:

Catawba Brewing Co. of Morganton, NC (Catawba) and Palmetto Brewing Company of
Charleston SC (Palmetto) are excited to announce the two companies are being joined into a single
entity. Catawba intends to finalize the purchase of Palmetto by the end of 2017 with the Pyatt
family retaining 100% ownership.

“The closer we became to Palmetto’s owners, the Lipov family, the more we realized our two
companies were very similar,” said Pyatt. “Palmetto will produce around 16,000 barrels in 2017, and
Catawba will produce around 17,500. Their culture is one of giving back to the employees and the
communities served, and their attention to customers mirrors ours.” Yet there are key differences
which should become synergies. “Catawba has one of the most effective manufacturing operations in  the southeast, while Palmetto has proven highly successful in customer-facing operations.”

“The opportunity for combined growth and shared resources will put both brands in a more
competitive position to compete in the rapidly changing craft market, “said Larry Lipov, Palmetto’s
owner. “And it is very satisfying to know today’s Palmetto and Catawba team members will work
together to grow the brands.”

“Catawba is so thankful for the intense retailer, wholesaler, and consumer support over the past
five years – we are 17 times bigger! Palmetto has been on a similar path, growing to about 8 times
larger than they were in 2012. But increasing market consolidation, product proliferation, and cost
pressure are making it more difficult for either company to remain competitive as a small,
independent brewer. The scale and scope of this new, combined entity will help us stay on our
trajectory,” said Pyatt.

Catawba has a long history of diversified job creation by expanding manufacturing and service
positions in their chosen markets. Pyatt elaborated, “Upon finalization, we will immediately
implement a $1 million capital investment plan for Morganton and Charleston. That includes facility
upgrades, equipment purchases, and of course, personnel to support our proven hybrid
retail/wholesale business model.”

About Catawba Brewing Co. ([email protected])

Founded by the western North Carolina’s Pyatt family in 1999, Catawba Brewing Co. operates their
main production facility in downtown Morganton, NC; a small batch brewery and tasting room in
downtown Asheville, NC; a tasting room in Asheville’s Biltmore Village; and a brewing/tasting
room/event complex in Charlotte NC. Catawba beers are currently distributed in NC, SC, TN, AL, GA,
and internationally.

About Palmetto Brewing Company

Palmetto Brewing of Charleston, founded in 1993, is SC’s first craft brewery. Owned by the Lipov
family and deeply rooted into the Charleston community, they have experienced growth from 2000
barrels in 2012 to a forecasted 16,000 barrels in 2017. Palmetto beers are currently distributed in
SC, NC, and parts of Georgia, and they operate a brewery/tasting room in Charleston, .

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