JANUARY 1, 2023 – Yellow Point Equity Partners V LP (“Fund V” or the “Fund”) is pleased to announce the closing of an investment in Phillips Brewing Limited Partnership (“Phillips”), facilitating broad employee ownership alongside its founder, Matt Phillips.
Based in Victoria, BC, Phillips is a leading craft brewery that manufactures and distributes Phillips-branded craft beer across Canada. Phillips has built an award-winning portfolio of brands, including its legendary Blue Buck ale along with successful new innovations such as Dinosour and iOTA de-alcoholized beer. The company also malts its own barley, distills spirits, manufactures craft soda, and distributes sparkling water and mocktails under its Sparkmouth brand.
Phillips was founded in 2001 by Matt Phillips on the principles of using quality ingredients and a heavy dose of creative flair to produce great beer and build a deep connection with craft beer consumers. Over 20 years later, Phillips’ commitment to crafting quality brands remains at the heart of everything they do, with the aligned goals of sustainable production and strong community connections.
Matt Phillips noted, “I’m extremely excited about this next chapter in the Phillips Brewing story. Importantly, partnering with Yellow Point has enabled meaningful employee ownership in the brewery, which has been a long-held goal of mine. Yellow Point’s support of this goal, local presence, and reputation for adding strategic value while taking an operationally hands-off approach made them an ideal partner for this next stage of growth fueled by exciting and expertly crafted beer, spirits, and non-alcoholic drinks.”
“Phillips’ highly creative culture and unwavering attention to quality has underpinned its success to date,” said Brad Hill, Yellow Point Partner. “We believe that the company’s core brands and new inventive products will continue to resonate with consumers across Canada.”
Brian Begert, Yellow Point Managing Partner added, “Phillips long track record as a leader in its market, coupled with compelling growth opportunities made it an excellent fit as our next investment. We are excited to partner with the exceptional team at Phillips to support the company’s continued growth.”
This is Yellow Point’s third investment in its fifth fund, which had its final closing in December 2021.
About Yellow Point
Yellow Point Equity Partners has been actively helping its management partners build better businesses for over 18 years. The firm invests in outstanding management teams of later-stage growth companies based primarily in Canada and aims to be the long-term partner of choice for Canada’s leading mid-market companies.
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