For over 50 years, Hensley Beverage Company didn’t carry any non-alcoholic beverages in its portfolio and managed to get by just fine. The Arizona-based distribution house, founded in 1955, built its operations — which currently extend to six facilities across the state totaling over 800,000 sq. ft. of combined space and over 1,000 full-time workers — largely on the back of a longstanding agreement with Anheuser-Busch InBev (AB) to carry its products exclusively. That partnership ended, however, in 2008, when a combination of factors — a decrease in construction and real estate development caused by the national economic downturn, along with strong anti-immigration sentiment within the state that caused some recent foreign arrivals to move elsewhere — began to negatively affect beer sales, according to the distributor, and compelled it to make a change.
Keith Villa, the legendary brewmaster who retired from MillerCoors earlier this year and launched Ceria, Inc., a cannabis company, is most known for creating the iconic Blue Moon Belgian-style wheat ale. So it’s only fitting that his first play in the cannabis-infused beverage space would be a de-alcoholized version of his popular brew. Called Grainwave, Villa’s first THC-infused non-alcoholic craft beer, a Belgian-style white ale, will hit Colorado dispensaries in mid-December.
With over 6,500 breweries in the U.S., it can be difficult to differentiate yours from the rest. At Brewbound Live this Nov. 27+28 in Santa Monica, explore strategies for standing out in a crowded marketplace. Speakers include Melvin Brewing, Brooklyn Brewery, Craft Brew Alliance, Firestone Walker, data analysts, cannabis specialists and more. Register now to attend.
San Diego County craft brewers produced more than 1.1 million barrels of beer in 2017, up about 22 percent from 2016 levels, according to an economic impact study conducted by the San Diego Brewers Guild and California State University San Marcos’ (CSUSM) Office of Business Research and Analysis. The total economic impact of the craft brewing industry in San Diego County increased from $870 million in 2016 to more than $1.1 billion last year, according to the study, titled “Economic Impact of Craft Breweries in San Diego County Report.” The study also found that more than 130 San Diego-based breweries generated about $802 million in revenue last year.
After four years of discussions with Sixpoint Brewery founder Shane Welch, Artisanal Brewing Ventures (ABV) finally completed a deal to purchase 100 percent of his Brooklyn-based craft brewery this week. Even though ABV had been courting Sixpoint for several years, it wasn’t until this summer when negotiations really began to heat up, John Coleman, CEO of ABV, told Brewbound.
The continued acceleration of Kona beer sales during the third quarter couldn’t offset company-wide shipment and depletion declines of other Craft Brew Alliance (CBA) offerings, the Portland, Oregon-headquartered company reported today. In Q3, Kona depletions increased 9 percent as the brand grew in both off- and on-premise channels. The depletion growth followed increases of 7 percent and 3 percent in the second and first quarters of the year, respectively.
Yet another small brewery has found itself in financial trouble. The parent company of Boulder, Colorado-based Fate Brewing Company, Fate Restaurants LLC, has filed for Chapter 11 Bankruptcy protection. According to the November 1 filing, Fate owes more than 50 creditors between $1 million and $10 million. The company also claims between $1 million and $10 million in estimated assets.
In episode nine of the Brewbound Podcast, Victory Brewing co-founder Bill Covaleski discusses Artisanal Brewing Venture’s appetite for M&A, and shares his thoughts on how craft breweries can reach a broader base of beer consumers as well as opportunities he sees ahead for the Victory brand.
Artisanal Brewing Ventures, the family office-backed holding company formed in early 2016 via the merger of Victory Brewing and Southern Tier Brewing, today announced the acquisition of New York-based Sixpoint Brewery. Specific financial terms of the transaction were not disclosed.
Charlotte, North Carolina-based Sycamore Brewing is “living in fast forward,” according to vice president of sales Archie Gleason. The Kenny Chesney lyric appears apt for the 5-year-old craft brewery, which plans to double its beer and cider production by the end of the year.
A new generation is now leading the day-to-day operations of 30-year-old Grand Teton Brewing Company at a time when competition has never been stiffer. Last year, Chris Furbacher and his wife, Laura, moved to Victor, Idaho to help his parents, Steve and Ellen Furbacher, run the 30-year-old craft brewery.
In this week’s edition of Last Call: Yakima Chief Hops faces a breach of contract lawsuit; Greg Koch to be on the big screen Sunday; 5 Rabbit’s fight with Donald Trump set to screen; and more news from the week.
We’re less than four weeks away from our two-day Brewbound Live business conference, taking place November 27 and 28 in Santa Monica, California, and we’re pleased to unveil a first look at the agenda. Featuring numerous presentations and panel discussions, as well as a “Crash Course” designed for early-stage companies, the 2018 conference will be Brewbound’s most comprehensive to date.
In episode eight of the Brewbound Podcast, Constellation Brands’ Bill Hackett discusses the strategies that have allowed the Corona brand to flourish in the U.S. over the last three decades, and how he sees the beer market evolving in the years to come. He also talks about the taproom phenomenon, the importance of brand building at a time when 7,000 craft breweries are fighting for mindshare, and what he drinks when he’s not tipping back a pint of beer.
Molson Coors reported its third-quarter earnings today, which were highlighted by a 1.8 percent increase in worldwide net sales, to $2.9 billion. Year-to-date, Molson Coors — whose brands include Coors Light, Coors, and Miller Lite, among others — has recorded $8.4 billion in net sales, down 0.8 percent from 2017 levels.
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The Brewbound Podcast features interviews with beer industry executives and entrepreneurs, along with highlights and commentary from the weekly news. New episodes every Thursday.
