US-based craft brewery SweetWater Brewing is preparing for an initial public offering (IPO).
Reuters cited people familiar with the matter as saying that SweetWater is negotiating for stock market flotation with investment banks, which is expected to come later in 2015. It could value the company in the hundreds of millions of dollars.
SweetWater and TSG refused to comment.
Backed by private equity firm TSG Consumer Partners, SweetWater brews beers which include 420 Extra Pale Ale, Take Two Pils, Hop Hash and Georgia Brown.
Last year, SweetWater Brewing divested a minority stake to TSG Consumer Partners as some of the investors in the company wanted to raise investment from the business.
The Brewers Association estimates that revenue of $19.7bn craft beer industry in the US increased to 22% in 2014. The market share of craft beer segment, which currently contributes to 11% of overall sales of beer industry, has more than doubled since 2010.
According to market data, SweetWater sales increased 24% from 2013 to approximately 190,000 barrels in 2014.
