Two potential buyout deals could be on tap for San Antonio’s Alamo Beer Co.

San Antonio’s largest craft brewer, Alamo Beer Co., could be under new ownership soon, the Express-News reports.

Two potential buyers are weighing a “purchase of all the assets as a going concern,” Alamo Beer bankruptcy attorney William Kingman said during a meeting last Friday of the business’ creditors. While he said he wasn’t at liberty to reveal the interested parties’ names, he added that one planned to visit the brewery last week.

Alamo Beer, currently owned by founder Eugene Simor, filed for Chapter 11 bankruptcy reorganization last month amid a nationwide slump in beer consumption. Last fall, Simor put the company’s near-East Side compound up for sale, saying the dollar value of the real estate had eclipsed its potential as a production brewery.

Alamo Beer has $9.3 million in assets — primarily linked to its real estate property — and $24.8 million in liabilities, according to its Chapter 11 filing. Its 2024 sales of $1.5 million represent a $1 million decline from the previous year, according to the Express-News.

During Friday’s meeting, Kingman said a buyout offer would likely allow Alamo to pay off the $5 million in loans it has outstanding. In an email obtained by the paper, the attorney described both of the brewery’s potential suitors as being “in their respective ‘due diligence’ phase in anticipation of formulating an offer.”

“Needless to say, we’re hoping for an offer well in excess of all the [loans] in the case so that we can sell the company, distribute money and probably dismiss the case,” Kingman told the judge presiding over the Chapter 11 case. “We believe a plan (of reorganization) can be confirmed. We believe that we can go through a sales process pretty quickly.”

Alamo is just the latest San Antonio craft brewer to hit on hard times as consumers push away beer for wine, spirits, flavored malt beverages and hard seltzers. Weathered Souls Brewing Co., Busted Sandal Brewing Co. and Second Pitch Brewing Co. all closed their doors as the market slumped.

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This article appears in Mar 5-18, 2025.