“We have very slight market penetration in most places,” he said. “There are a lot of easy targets to hit before we start getting into 7-Eleven and look at a more mass-market approach. The market maturity is such that we can wait a little while; I don’t think the window is about to close.”
But those easy targets can only take a brand so far. Knowing this and preparing for long term growth opportunities, Avery Brewing founder Adam Avery will invest nearly $30 million on a new production facility expansion. The expansion will allow for increased production of the company’s core lineup and expanded production of more high-end, experimental barrel-aged offerings.
Whitney said the project will be financed via a “huge bank loan.”
“It will be our first significant debt as a company but we are absolutely certain that it’s totally worth it,” he said.
In our latest video segment, Whitney discusses new retail opportunities and details the company’s expansion plans.