• Disclosure
  • Privacy Policy
  • DMCA Policy
  • CCPA
  • Medical Disclaimer
  • Contact
  • About
Sunday, July 3, 2022
SLC Metro News
  • Home
  • News
  • Business
  • Technology
    • Crytpocurrency
    • Gaming
    • Gadgets
  • Sports
  • Health
  • General
    • Business Services
  • Travel
  • Press Releases
  • Popular
No Result
View All Result
  • Home
  • News
  • Business
  • Technology
    • Crytpocurrency
    • Gaming
    • Gadgets
  • Sports
  • Health
  • General
    • Business Services
  • Travel
  • Press Releases
  • Popular
No Result
View All Result
No Result
View All Result
Home News Local News

Squatters And Wasatch Brew Pubs Sold To Local Owners – The Park Record

squatters-and-wasatch-brew-pubs-sold-to-local-owners-–-the-park-record
Share on FacebookShare on Twitter
svg%3E
PRC Restaurant Company recently inked a deal to acquire all Squatters and Wasatch restaurants, including the Wasatch Brewery at the top of Park City’s Main Street that recently celebrated its 35th anniversary.

Park Record file photo

Squatters pubs are back where they belong — in the hands of founders Jeff Polychronis and Peter Cole. And Wasatch’s brew pubs are joining them.

PRC Restaurant Company, which is owned in part by Polychronis and Cole, inked a deal Thursday morning to acquire Salt Lake Brewing Company for an undisclosed price from CANarchy Craft Brewery Collective.

Salt Lake Brewing Company owns seven restaurants and a central kitchen that serve Salt Lake City and Park City as Squatters and Wasatch restaurants. Thursday’s transaction laid to rest the uncertainty of the eateries’ fates after Monster Beverage Corporation announced in January it was buying CANarchy, including the Squatters and Wasatch breweries — but not the brew pubs.



“It’s very exciting for us,” said Polychronis, who is PRC’s chief operation officer. “I think there’s a ton of potential moving forward and we’re excited to be the boss again.”

Polychronis and Cole founded Squatter’s Pubs in 1989 and sold it to a Massachusetts-based private equity fund called Fireman Capital Partners in 2012.



“They bought our brewery and our restaurant and we were its first brewery acquisition,” Polychronis said.

Fireman Capital Partners backed CANarchy and subsequently purchased breweries in Colorado, Florida, Michigan, Texas and California, Polychronis said.

Over the years, Polychronis and Cole talked about eventually buying back Salt Lake Brewing Company from CANarchy, because CANarchy began to focus more on the brewing business instead of the restaurants, Polychronis said.

“So, these restaurants in Salt Lake City and Park City were kind of outliers to what they were doing,” he said. “We talked with them from time to time, but nothing really came out of it.”

As CANarchy prepared to sell the brewing portions of the Salt Lake Brewing Company to Monster, it got more interest in selling the restaurants to PRC, according to Polychronis.

“The restaurants became outliers in what they were focusing on, so we put together a deal, signed a commitment letter on Jan. 14, did a lot of due diligence and closed the transaction this morning,” he said.

Monae Madson, the prior vice president of CANarchy’s brewpubs and taprooms, will remain on board and serve as the Salt Lake Brewing Company’s chief executive officer, so restaurant patrons shouldn’t expect any major changes, Polychronis said.

“Monae Madson and her team are doing a great job, and we’re thrilled to have them remain on with us,” he said. “I think our job is to support them in every way we can but stay out of their way.”

PRC will provide Madsen and her team with the resources to grow and sustain the company, according to Polychronis.

“It’s been a difficult time for everybody with COVID through this last couple of years, and the company has survived and done well, but there is some recovery to do,” he said. “When the dust settles a bit on the pandemic, we will look at other locations to open new restaurants in Utah.”

With Utah in mind, PRC would like to see the restaurants interact more with the local population, Polychronis said.

“Squatters and Wasatch have a history of being involved with the community,” said Polychronis, who was born in Park City and graduated from Park City High School in 1972. “I think they may have gotten away from that with out-of-state ownership. So, we‘re going to recommit to that and get back to our roots in being community minded and locally oriented and go from there.”

PRC’s acquisition of Salt Lake Brewing Company puts Squatters and Wasatch Brew Pub back into local hands.

“It’s emotional for Peter and me, because things like this don’t happen pretty often,” Polychronis said. “You start something from nothing, which we did 33 years ago, and grow it to a size where you’re able to sell it. And then nine years later, the opportunity arises to get it back.”

SLC Metro News

© 2021 SLC Metro News

Navigate Site

  • Disclosure
  • Privacy Policy
  • DMCA Policy
  • CCPA
  • Medical Disclaimer
  • Contact
  • About

Follow Us

No Result
View All Result
  • Home
  • About
  • DMCA Policy
  • Medical Disclaimer
  • Privacy Policy
  • Disclosure
  • CCPA
  • Terms of Use

© 2021 SLC Metro News

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies. However, you may visit "Cookie Settings" to provide a controlled consent.
Cookie SettingsAccept All
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT