Canadian cannabis company Canopy is positioning itself to be a prime mover in the U.S. legal marijuana market, last week announcing an agreement to acquire Acreage Holdings in a deal valued at $3.4 billion.
In this week’s Last Call: Boston Beer CEO’s 2018 compensation hits $20 Million; New Belgium opens remodeled pub at Denver airport; 7-Eleven tests upscale store; Amazon seeks alcohol policy manager; New York State Liquor Authority fines Shmaltz; and more industry news.
Cerveceria Calidad, a recently launched Mexican-style lager brand, has secured $2.5 million in seed funding from more than 20 investors, including American-Mexican Major League Baseball player Adrian González. Other notable investors include Nathaniel Ru, Nicolas Jammet and Jonathan Neman, the founders of Sweetgreen, and MeUndies founder and CEO Jonathan Shokrian.
San Diego’s Modern Times has turned to crowdfunding in an effort to raise more than $1 million, which it says will be allocated for the continued operation of its business, “minor efficiency projects” and equipment purchases, and continued expansion. In the process of posting the equity crowd raise via the Wefunder platform, the company has provided future investors and others throughout the beer industry with a peek under the hood of one of the fastest-growing craft breweries in the U.S.
Washington’s craft brewing industry contributed $1.4 billion to the state’s economy in 2017, according to an economic impact report released Tuesday by the Washington Beer Commission. The study, conducted by Seattle-based research firm Community Attributes Inc, found that the state’s 382 breweries produced 582,400 barrels, generated $581.4 million in revenue and employed 6,300 workers in 2017.
In episode 32 of the Brewbound Podcast, Sebago Brewing co-founder Kai Adams discusses the ways in which his company has evolved over the years, and how a two-decades-old brewery stays relevant in a competitive environment.
Last week, 14,000 beer industry professionals made their way to Denver, Colorado, for the annual Craft Brewers Conference, hosted by the Brewers Association (BA). During the event — which featured about 100 different seminars on topics ranging from diversity and inclusion to franchise law reform – leaders from the BA cautioned attendees about future growth prospects for the category.
Improving diversity and inclusion within the craft brewing industry was a recurring theme throughout last week’s Craft Brewers Conference (CBC) in Denver. During a Brew Talks panel discussion, Brewers Association diversity ambassador Dr. J. Nikol Jackson-Beckham argued that reaching out to customers beyond “white dudes with beards” is no more risky than mortgaging financial futures to start breweries.
Constellation Brands will shutter two Ballast Point Brewing facilities in Southern California, and back out of a plan to open a brewpub in San Francisco, Brewbound has learned. A spokeswoman with the New York-based beer, wine, and spirits company today confirmed the closure of Ballast Point Brewing’s 80,000 sq. ft. “Trade Street” sour beer and barrel-aging facility, which opened in San Diego in late 2017, as well as its Temecula, Calif.-based brewpub, which opened in 2016.
Bee Pollen. Quinoa. Pink Himalayan sea salt. You wouldn’t ordinarily expect to find these ingredients listed on a beer label, but increasingly brewing companies are pushing more “functional” offerings as they look to appeal to consumers seeking healthier alcohol options. It’s a new approach for a growing number of craft breweries, who for years have churned out calorie-dense, barrel-aged stouts, and high-octane IPAs.
In a crowded beer marketplace, a quality product, vivid packaging or an active social media presence often are not enough for a company to capture consumers’ attention. Now more than ever, both established companies and early-stage craft breweries are turning to new technology to help them cut through the noise.
In this week’s Last Call: Patagonia sues Anheuser-Busch for trademark infringement; Stanford researchers find consumers more negatively view beer made by women; Maryland lawmakers pass franchise law reform and modernization bill; and more industry news.
In episode 31, Revolution Brewing CCO Donn Bichsel discusses how Revolution Brewing is dealing with industry headwinds and shares his outlook on the future of craft. He also shares how the company is staying relevant in a crowded marketplace, and how it intends to succeed over the long-term.
Former Constellation Brands executive Marty Birkel has joined the board of directors at Cannabiniers, the cannabis company behind the Two Roots line of THC- and CBD-infused non-alcoholic craft beers. Birkel, who officially departed Constellation earlier this year, had most recently served as the president of the company’s craft and specialty division.