In this roundup of legal news: MillerCoors is attempting to block a former top executive from joining Constellation Brands; Bell’s loses a nearly 3-year-old trademark fight; and a federal judge is allowing a lawsuit filed by the son of Thelonious Monk against North Coast Brewing Co. to proceed.
After taking on a “considerable amount of debt” to build a $20 million secondary production facility in Virginia Beach in 2015, Green Flash Brewing founder and CEO Mike Hinkley is on the hunt for new investment. The San Diego-based craft brewery has retained SSG Capital Advisors — a boutique investment banking firm that specializes in mergers, acquisitions, restructurings and often works with “companies facing complex or challenging situations,” according to its website – to help it bring on a new partner.
Brewbound will host a two-day business conference for professionals in the beer, cider, and flavored malt beverage industries. Called Brewbound Live, the expanded event – formerly known as Brewbound Session — will take place at the Loews Hotel on November 27 and 28 in Santa Monica, California. Join a diverse group of thought leaders and entrepreneurs to discuss trends, challenges, and the future of the brewing industry. Super early registration discounts ($250 per ticket) expire this Monday, February 16th.
Irish cider company C&C Group plc., owner of the Vermont Hard Cider Company, today announced that it will end its 2-year-old U.S. marketing and distribution agreement with Pabst Brewing on April 1. In a letter to distributors and retailers, Vermont Hard Cider — whose brands include Woodchuck, Gumption, and Wyder’s, among others — said the two companies mutually agreed to terminate the strategic partnership forged in December 2015.
In today’s Legislative Update: Wisconsin Senate committee asks for more study of the “alcohol czar” proposal; Denizens owner picked as Maryland gubernatorial candidate’s running mate; the Virginia House and Senate pass at-rest provisions; and more.
Newly Appointed Boston Beer Company CEO Dave Burwick will earn a base salary of $750,000 and take home a hefty $1.6 million signing bonus, according to an SEC filing. Burwick, already a member of Boston Beer’s board of directors since 2005, was announced as the company’s new CEO on Wednesday. He is expected to replace outgoing CEO Martin Roper, who has been with the company for more than 17 years, on April 2, according to the filing.
New data from market research firm Nielsen CGA suggests that on-premise food and drink sales declined significantly on Super Bowl Sunday. The firm — which compared sales data from February 4 and January 28 — found that U.S. bars and restaurants “saw an average sales drop around a third” on the day of the big game.
In this week’s edition of Last Call: Plans for Three Floyds’ brewery expansion are revealed; Pretty Things founders resurface in England; Hanson Spirits acquires Carneros Brewing’s production facility and taproom; Deschutes and Bluejacket announce can packaging releases; and more.
The distribution rights to a pair of notable craft beer brands were recently swapped in Illinois after multi-state alcohol distributor Breakthru Beverage traded Ballast Point to a cluster of MillerCoors wholesalers in exchange for Dogfish Head.
After a yearlong search, Boston Beer Company has named its next CEO. On Wednesday night, the company revealed that Dave Burwick, the CEO of Peet’s Coffee & Tea, Inc., would depart the Bay Area-based specialty coffee maker for the producer of Samuel Adams — a pioneering U.S. craft beer brand that in recent years has struggled to grow as thousands of new offerings have flooded the market.
Despite continued negative domestic volume trends for its flagship light lager brands, Molson Coors’ worldwide sales increased 0.2 percent to more than $11 billion in 2017, according to company earnings released today.
Constellation Brands today announced that CEO Rob Sands has relinquished his role as “president,” appointing current chief operating officer Bill Newlands to the position. Sands will continue to serve as CEO, a press release noted.
Just four hours into the launch of its new “Z series” automated brewing appliance, Seattle-based PicoBrew has already pre-sold more than $1 million worth of equipment. The company, which was founded in 2010 by former Microsoft executives Bill and Jim Mitchell, today announced the launch of what it is calling the “first professional-grade, all-grain brewing appliance line.”
In this week’s Legislative Update: Maryland lawmakers propose a bill to reduce the amount of beer small brewers can sell in their taprooms; Virginia lawmakers grant Deschutes an exception to operate its Roanoke tasting room; and more.
Stone Brewing also released a nearly five-minute-long video of Koch, who began promoting the so-called “scrap” in a series of cryptic tweets last week, making his case. In the video, Koch explains that “Big Beer” companies such as MillerCoors, faced with dwindling sales of their core domestic lager brands, embarked on a multi-year spree of craft brewery acquisitions in an attempt to offset declines.