Brewer's notice

Definition

The federal approval a brewery operates under, issued to a person and not to a site.

Why It Matters

It is the document that decides whether a deal is an asset purchase or a stock purchase, because the two are not the same wait. On a change of proprietorship the outgoing brewer closes out and the successor has to qualify in the same manner as the proprietor of a brand new brewery, which means the tanks stand idle until the approval issues. A stock sale that changes control instead becomes a thirty-day notification. Ask when the seller's notice was last amended and what is on it, because the approved premises and the approved operations are both described in it.