In October 1974 it was announced that The Stegmaier brewery was closing and that The Lion was acquiring Stegmaiers’ labels and recipes. In addition to a shrinking customer base and encroachment from national brands, Stegmaier had trouble competing because of antiquated equipment, a large brewery building with high overhead costs, and 1973-74 price shocks that increased the cost of many commodities needed to produce beer. After the acquisition, The Lion hired 50 former Stegmaier employees and it formed a Stegmaier Brewing division that was responsible for its Stegmaier beer. Charles Stegmaier’s great-great-grandson, Charles Maier, who had been an Executive Vice President in Stegmaier Brewing Company, became an Executive Vice President in The Lion. A Stegmaier brewmaster was hired by The Lion, and consumers were assured that Stegmaier was being brewed by The Lion to the exact same formula as it had been previously, (including the use of Stegmaier's yeast ).