San Antonio’s Alamo Beer Company has officially changed hands.

Australia-based private equity firm SKJ Capital announced this week that it has acquired the brewery out of Chapter 11 bankruptcy for an undisclosed amount, positioning the deal as a path toward stabilizing the longtime local brand.

“Alamo Beer Company is a local favorite and a true San Antonio landmark,” said Sam Johnson, CEO of SKJ Capital. “Our goal is to provide the resources, expertise and long-term strategy needed to strengthen operations and secure its future.”

Alamo Beer filed for Chapter 11 protection in February, when founder Eugene Simor cited rising operating costs and declining sales. Court filings estimated assets and liabilities between $1 million and $10 million.

Under the new ownership, the brewery will continue operating at its downtown San Antonio location near the East side and is expected to undergo renovations aimed at modernizing brewing operations and refreshing the taproom. SKJ Capital has also appointed Jason Pond as chief executive officer.

“Alamo Beer Company has a rich history backed by a strong community here in San Antonio,” Pond said. “I’m excited to bring new life to the brand while positioning the company for future expansion.”

The transaction was completed through the bankruptcy process with legal guidance from Haynes Boone, which advised SKJ Capital on the acquisition.

As part of the deal, SKJ also assumed an existing licensing agreement tied to the Hulu reboot of King of the Hill, allowing Alamo Beer to continue producing and promoting a branded lager inspired by a beer in the show.

“Navigating a Chapter 11 process, real estate considerations and licensing issues simultaneously required careful coordination,” said Ian Peck, a restructuring partner at Haynes Boone. “It was rewarding to help bring their vision to completion.”

Founded in 1997, Alamo Beer is best known for its Alamo Golden Ale and its brewery and beer hall, which opened in 2015 and regularly hosts community events. The acquisition marks SKJ Capital’s first expansion into the U.S. market.