The owners of Morgan Street Brewery, a fixture on the historic, rambunctious Laclede’s Landing downtown, have put their craft beer operation on the market, as reported by the St. Louis Post-Dispatch.
Co-owner Steve Owings, who founded the brewery at 721 N. Second St., with Dennis Harper in 1995, was blunt when explaining his reason for selling. “(I’m) looking at retirement. I’m old,” he said. “Just trying to bow out gracefully.”
Even so, this won’t be the end of Owings’ and Harper’s business ventures. The two will continue to own and operate Sundecker’s Bar & Grill, also on Laclede’s Landing. Harper also is co-owner of two Harpo’s locations with another individual.
Owings said selling Morgan Street had been on their minds for the past two years, though they only just listed the property earlier this summer. No buyer has inked a deal just yet, but the anticipated sale price will be at least $5 million, according to the business adviser assisting with the sale.
Morgan was among the first craft breweries to set up shop in St. Louis in the early to mid-90s, along with the St. Louis Brewery, who owns the Schlafly brand, and Trailhead Brewing Co., in St. Charles. Owings said he hopes the new buyer, whoever it might be, will continue the tradition of making good beer. “(I’d) love to see them keep the name and everything going forward. But whoever picks it, it will be up to them,” he said.
This article appears in August 2014.