Victory Brewing has bought the property that is home to its main brewery in Chester County for $10.75 million, writes Natalie Kostelni for Philadelphia Business Journal.

According to Ron Barchet, Victory’s Chief Operating Officer and Brewmaster, the company had always planned to buy the building eventually. When Victory started searching for a site to build a new brewery four years ago, it locked onto the 212,000 square feet Parkesburg property at 3127 Lower Valley Road, which fit its needs perfectly.

“When we found the building, we considered buying it but we took into consideration the amount of investment we were making in brewing equipment and couldn’t swing buying the property at the time,” said Barchet.

Victory invested close to $35 million in the building three years ago for its bottling and brewing operations. Despite not being able to buy the property at the time, the company entered into a lease agreement with landlord Chris Knauer, which included an option to purchase the building within three years. The sale price was also determined at that time.

“We exercised that option,” said Barchet. “We knew we were making massive improvements and adding too much value in the building not to buy it.”

Read more about the purchase at Philadelphia Business Journal here, and check out previous VISTA Today coverage of Victory Brewing here.