Indianapolis-based restaurant brand Scotty’s Brewhouse has been acquired by a subsidiary of Arizona-based Due North Holdings LLC. The Scotty’s Brewhouse concept was launched 20 years ago. Founder Scott Wise tells Inside INdiana Business plans call for expanding to 100 locations in five years in the U.S. and abroad and taking it public.
Wise says "this has been a 20 year dream in the making. And to see it all come to reality, as well as, understand the potential for our future with Due North is so humbling and exciting." Due North says Wise will remain "actively involved" as the footprint grows. "Due North Holdings shares our values here at Scotty’s, and that was a big part of the decision for us," Wise said. "I wanted to know my vision and my team would stay in place as we continued our growth and Due North Holdings is giving us this exact opportunity."
Scotty’s currently has 19 locations in Indiana, Illinois and Florida, including a Plainfield restaurant that is currently under construction. The plan is to develop more Midwest locations and Due North says it will also bring the concept to Arizona and other parts of the Southwest within a year. Wise’s craft beer brand, Thr3e Wise Men Brewing Co., also factors into the equation. Due North says "significant plans" are underway to take Thr3e Wise Men nationwide.
Wise would not disclose the price of the deal, but says the company is currently in negotiations for 10 potential locations in markets such as Lexington, Louisville, Cincinnati and Columbus, Ohio, Denver, Phoenix/Scottsdale, as well as Missouri and Florida.