Offering an employee stock option was a cornerstone of the succession plan Schlafly and Kopman had in mind. Schlafly, 63, and Kopman, 50, wanted employees to own a piece of the company before the founders eventually retire; neither one has family members interested in taking over the company. Details of the employee stock plan are still being finalized.

"All along we've tried to be as transparent as possible about this with the people who matter most to us: our employees and customers," Kopman said. "I'd say the general mood around here is very, very excited." Twenty years after doing the unthinkable -- launching a beer company in Anheuser-Busch's back yard -- the two founders of Schlafly beer are handing over the keys of the beloved St. Louis Brewery.

For Tom Schlafly and Dan Kopman, the sale to a group of 13 local investors is more about retirement planning than selling out or cashing in.

"We're very happy -- and, in many respects, relieved -- that the succession framework we outlined 18 months ago is exactly what wound up happening," Kopman said. "We kept our focus narrow by only considering local investors who were passionate about St. Louis and adamant about keeping our business here."