Share this article:

Kodiak Capital Group LLC in Newport Beach has agreed to buy up to $1 million in common stock of Evans Brewing Co. in Irvine.

Kodiak is a private equity firm and institutional investor. Evans makes and sells craft beer to restaurants and retailers.

Get the latest OC business and Coronavirus updates

The investor has agreed to buy shares at about $2.50 apiece, depending on trading levels.

Evans’ production capacity is about 11,000 barrels a year; it plans to use the money to double production.

The brewery’s shares trade thinly over the counter and recently stood at about $2.25 for a market cap of $10.3 million.

Kodiak this month agreed to invest $2 million in Burn Entertainment Corp. in New York, which produces media related to legal marijuana. It has previously invested in clean technology, biomedical and energy firms.