Updated Sep 29, 2015, 2:37pm EDT - Kenneth Hilario - Reporter Philadelphia Business Journal

A local brewery has sold a portion of its company to a New York-based private equity firm.

Milton, Del.-based Dogfish Head Brewery announced it sold 15 percent of its company to LNK Partners, which has invested in companies including Au Bon Pain, Beachbody and Fitness Connection, according to its website.

"They are an incredibly smart and experienced group of people who have worked with companies of all sizes and styles like Levi's, Performance Bicycle, Gatorade and Calvin Klein to help those guys achieve their goals in their respective industries," the brewery's founder and President Sam Calagione wrote in a letter to coworkers.

"We went into our introductory meeting with LNK as if it would be our only, but rather found that the result was a robust and thoughtful dialogue about Dogfish's solid and unique position in the craft beer industry," Calagione continued. We walked out of the meeting thinking perhaps we should rethink those original assumptions. Perhaps we had judged an off-centered book by its centered cover.

Read More at Source | The Philadelphia Business Journal