Missouri-based Saint Louis Brewery has signed a purchase agreement to transfer 60% ownership interest in the business to local investment group.

The investor group is led by Wes Jones and John Lemkemeier of St. Louis and including David Schlafly, also of St. Louis.

Saint Louis Brewery co-founder and president Tom Schlafly said the agreement with Wes and John meets the criteria the company set back in June of 2010, when they first discussed a succession plan for ownership of the brewery.

Schlafly will initially retain an interest of approximately 20% and serve as chairman of the Brewery. Dan Kopman, co-founder and current chief operating officer, will own at least a 10% interest and serve as CEO.

Ten percent of the business will be available for purchase by eligible employees.

The brewery has been producing fine craft beers in St Louis since 1991 and recently celebrated its 20th anniversary. Its flagship Pale Ale is a smooth, balanced, copper-colored session beer with mildly spiced flavor and aroma from the East Kent Goldings hops.