Seattle Hospitality Group (SHG) makes strategic investment in Pike Brewing Company, which will retain its local leadership, including Founder Charles Finkel and President Drew Gillespie.
(SEATTLE) – SHG, which invests in iconic Pacific Northwest brands to unlock their next generation of success, has taken a stake in Seattle’s legendary Pike Brewing Company to extend its reach across the region and beyond.
Terms of the investment were not disclosed.
“I designed Pike Brewing to be a hundred-year-old brewery like those I worked with in Europe years ago,” said Charles. “I’m 77-years-old, and I was looking for the right partner to help Pike’s legacy live on. SHG’s focus on iconic businesses and understanding of the Pacific Northwest experience made them the perfect partner to achieve that 100-year goal and beyond.”
Founded in 1989 by Charles and Rose Ann Finkel, Pike Brewing handcrafts a diverse line of beers and operates two popular Seattle restaurants, the Pike Pub and the seafood-centric Tankard and Tun. Both eateries are located near Seattle’s signature Pike Place Market.
“Pike Brewing Company embodies everything SHG seeks in an investment,” said SHG Chair and Founder Howard Wright. “The company’s unique, high-quality products have helped define life in the Pacific Northwest for more than 30 years. Charles and Pike President Drew Gillespie are forward-looking and committed to securing and expanding their company’s future for generations to come. We can help them realize that dream.”
SHG partner Ethan Stowell Restaurants is also investing in Pike Brewing Company to help grow the iconic beer brand.
“Pike Brewing’s products are among the Pacific Northwest’s signature beverage offerings,” said Ethan Stowell Restaurants CEO & Founder Ethan Stowell. “We look forward to working with the Pike team to grow the brand and help get their excellent beers in front of even more people.”
“Pike Brewing’s rise to iconic status and enduring success are directly attributable to its talented management team,” said Wright. “Pike’s leadership commitment to quality and innovation is reflected not only by Pike’s bottom line but in the recognition and honors earned by their beers and restaurants. We look forward to working with and learning from Charles, Drew and their colleagues.”
The Pike Brewing management team will benefit from SHG’s deep knowledge and insight.
“SHG’s experience operating best-in-class hospitality businesses offers us new tools,” said Gillespie. “Their CFO, Glenn Corey, has already introduced us to aspects of finance that we didn’t have access to as a smaller business.”
While Pike Brewing’s business has been adversely affected by COVID-19, that reality is not central to the deal’s timing. The two parties started talking in late 2019 as Pike Brewing Company began its fourth decade. The conversations grew more serious following the June 2020 death of Charles’ wife and Pike Brewing co-founder, Rose Ann Finkel.
SHG’s investment portfolio includes the highly-regarded Ethan Stowell Restaurant Group, Kenmore Air, MTRWestern, along with family affiliated ownership of Seattle’s signature attractions the Space Needle and Chihuly Garden and Glass, the Sheraton Grand Seattle, and the Monterey Marriott.
“One of our motivations for working with SHG is the potential for symbiotic relationships with other SHG companies,” said Gillespie. “That’s part of what makes this a very exciting partnership for us.”
Both Pike and SHG also expect to boost the on-going efforts to thoughtfully expand Pike Brewing’s presence in the Puget Sound region, Washington in State, and beyond — including Oregon, California, and Japan. A Japanese company currently operates a Pike Pub under license in Chubu Centrair International Airport, located outside Nagoya in central Japan.
Founded in 2002 by Howard Wright, SHG is a privately held company that invests in iconic Pacific Northwest brands to unlock their next generation of success. SHG owns or has interests in hospitality, tourism, and transportation companies in Washington, Oregon, and California.
SHG Chair & Founder Howard Wright is an executive and entrepreneur with deep business experience in the hospitality, transportation, and tourism industries. He is widely recognized for his civic leadership and ability to bring together groups on all sides of an issue.
ABOUT PIKE BREWING COMPANY
Pike Brewing Company is an independent craft brewery founded in 1989 by craft beer pioneers Charles and Rose Ann Finkel. Located in Seattle’s iconic Pike Place Public Market neighborhood, Pike Brewing Company is home to two restaurants, The Pike Pub and Tankard & Tun.