Press Release:

(Burlington, VT) – Alchemy & Science announced today that it has acquired all rights to the Coney Island craft beer brands.

Alan Newman, president of Alchemy & Science, a craft beer incubator based in Burlington, Vermont and Jeremy Cowan, founder of Shmaltz Brewing, whose brands included Coney Island, made the announcement.

Jeremy Cowan founded Shmaltz Brewing in 1996 starting with He’brew Beer. Shmaltz launched the Coney Island brand in 2007. As part of the transaction, Jeremy will be joining Alchemy & Science in an advisory capacity to assist with the Coney Island brands. He’brew Beer is not part of this deal and Jeremy will continue to own and operate both the He’brew brand and his new brewery in upstate New York.

“Jeremy is very excited to join us and be an important part of the future of Coney Island brands,” said Alan Newman. “We are thrilled to collaborate with him to build on his hard work. He is a talented brewer with a flair for eye-catching branding. And personally, I am thrilled to re-visit my youth spent in Coney Island” concluded Newman.

Cowan, too, is enthusiastic about joining Alchemy & Science. He said, “I have always admired Alan back to his days at Magic Hat. To be a part of his team and work alongside him is truly a great opportunity.”

About Alchemy & Science

Alchemy & Science is a craft beer incubator founded by The Boston Beer Company, to increase awareness of craft brewed beers by exploring and managing a broad range of opportunities from creating new breweries and beers to providing legacy solutions to craft brewery founders. Alchemy & Science is headquartered in Burlington, Vermont. For further information go to AlchemyandScience.com

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SEC FILING:

On August 26, 2013, A&S Brewing Collaborative LLC, d/b/a Alchemy & Science (“A&S”), a wholly-owned subsidiary of The Boston Beer Company, acquired all rights to the Coney Island brand from Shmaltz Brewing Company, LLC (formerly known as Coney Island Brewing Company, LLC) (“Shmaltz”), as well as some brewery equipment and other assets related to the Coney Island brand.

In connection with the acquisition, A&S has entered into a two-year brewing services agreement with Shmaltz pursuant to which Shmaltz will produce some of the beer to be sold under the Coney Island brand name once certain conditions are met.

Immediately following the closing, Shmaltz will brew and sell Coney Island branded beer in certain markets under license from A&S until A&S obtains its required permits.

In addition, A&S has entered into an agreement with Shmaltz’s founder Jeremy Cowan, pursuant to which Mr. Cowan will advise A&S, as requested, on Coney Island matters, for a period of two years for a minimum of five years. <- UPDATED FROM AMENDMENT FILED ON 8/27.