Texas’ Deep Ellum Brewing has sold a majority stake to Storied Craft Breweries, an upstart growth capital group founded by the creators of Effen Vodka and led by beer industry veterans Steve Berg and Adam Lambert. Under the deal, Storied Craft Breweries will acquire a 56 percent stake in Deep Ellum, one of the fastest growing craft breweries in Texas, at least in part by buying out more than 20 minority partners from earlier investment rounds. The brewery will also receive $8 million in growth capital.
One day after naming Simon Thorpe the CEO of Pabst Brewing Company, chairman Eugene Kashper offered a window into the future of his company’s merger and acquisition strategy during Thursday’s Brewbound Session in San Diego. Thorpe, known for his M&A work as the former CEO of Duvel USA, where he was instrumental in purchasing Boulevard Brewing and Firestone Walker, will be tasked with “fine turning and fixing” Pabst’s partner strategy, Kashper said.
Border X Brewing used its Latino fusion flair to win the Brewbound’s Seventh Startup Brewery Challenge, held at the Paradise Point Resort in San Diego on December 1. Brewery founder David Favela beat out five other participants with his true-to-brand story and logo, his strong connections to the Hispanic community, and his contagious passion for bringing Latino-fusion brews to San Diego consumers.
Legalized marijuana is burning the craft beer business, according to Vivien Azer, Cowen and Company’s managing director and senior research analyst specializing in the beverage, tobacco and cannabis sectors. Speaking at the Brewbound Session today, Azer’s was just one of several voices that discussed a craft beer business that has experienced a decade of wild growth but has slowed in the past 18 months.
Three months after departing Duvel USA, beer industry veteran Simon Thorpe has been tapped as the new CEO of Pabst Brewing Company. Thorpe — whose career also includes stints with InBev, Crayola, Kellogg’s, Tambrands and Unilever — will take over the CEO position from Eugene Kashper, who will continue to serve as a principal owner and the full-time chairman of the Pabst board.
If Wesley Snipes were an investor in BrewDog, he’d probably give anyone considering the Scottish craft beer maker’s latest stunt a word of advice: always bet on black. BrewDog co-founder James Watt announced “BrewDog’s Big Bet” on Wednesday — a double-or-nothing bet of Equity for Punks USA investors’ money at a roulette table once its crowdfunding campaign concludes in February 2017. The event will be streamed through BrewDog’s Facebook site.
Nearly one month after being sued by beer importer Shelton Brothers for alleged “unfair and illegal” practices, Massachusetts-based beer distributor Craft Brewers Guild filed a motion to dismiss the lawsuit on Tuesday. The action stems from a November 4 lawsuit filed by Shelton Brothers, which claimed that Craft Brewers Guild’s illegal pay-to-play practices between 2013 and 2014 had cost the import company $1.7 million in potential sales.
Legalized marijuana is harshing the buzz of three longtime craft beer meccas, according to a new report from Cowen and Company. In Colorado, Oregon and Washington, where recreational cannabis use has been legalized, the beer business is underperforming, according to Vivien Azer, Cowen and Company’s managing director and senior research analyst specializing in the beverage, tobacco and cannabis sectors.
In the latest attempt to raise $50 million to build out its first U.S. brewery in Ohio, Scottish craft beer maker BrewDog announced Monday that it would open a brewpub in any American city where at least 500 people invest in the company’s Equity for Punks USA crowdfunding campaign.
Dutch beer maker Bavaria N.V. has acquired Latis Imports, a Connecticut-based importer of Belgian speciality craft beers. Terms of the deal, announced Monday, were not disclosed, but Latis co-founder David Van Wees told Brewbound that he sold 100 percent of his stake to Bavaria.
In this week’s edition of Last Call: A Texas judge rules on crowlers, the BA addresses diversity in brewing and Bat Watson analyses GABF winners.
2016 was a record year for United States hop growers. For the second consecutive year, the U.S. planted more hops (52,962 acres) than Germany (45,957 acres) as farmers expanded their operations to accommodate for increased hop production.
Coronado Brewing Company announced yesterday that it would expand distribution to Texas, signing with Brown Distributing. The San Diego-based company’s beers will be available in the Lone Star State this month, according to a press release.
Sierra Nevada yesterday named Joe Whitney as the company’s first chief commercial officer. Whitney, who began with the company in 2006, had been serving as the vice president of sales. The announcement comes after a six month-long effort to create a senior leadership team that, according to Whitney, will be tasked with doubling production over the next decade and transforming the company into the largest independently-owned craft brewery in the U.S.