Minnesota Breweries History: Minnesota Brewing Company Originally the Cave brewery, founded in 1855, Minnesota Brewing Company was strategically located to take advantage of a large number of cool underground caves and an ample source of freshwater. The Minnesota brewery has gone through several ownership changes over the years including Schmidt in 1900 and heilman in 1972. After a short closing the brewery reopened in 1991 with the help of local officials and strong public support in the old Schmidt Brewery building in downtown St. Paul. In 1999 the Minnesota Brewing copmany was the 12th largest brewing operation in the US with over 150 employees. It's brands included Pig's Eye, Yellow Belly, and Grain Belt as well as private label contract brands, soda and water. The Minnesota Brewing Co, one of the last old-line regional breweries, shut down on June 24, 2002. The popular Grain Belt brand that Minnesota Brewing brewed was sold to the Ulm-based August Schell Brewing Company