Craft Brew Alliance’s nearly four-year-long strategy of partnering with smaller brands has officially culminated with three separate purchase agreements that, combined, will cost the company less than $45 million. CBA, a publicly traded craft brewery group headquartered in Portland, Ore., today announced that it would wholly acquire Massachusetts’ Cisco Brewers, North Carolina’s Appalachian Mountain Brewery and Miami’s Wynwood Brewing.
Nearly 30 months after first announcing plans to build a new production facility in Sonoma County, Russian River Brewing Company will open its nearly $50 million, 85,000 sq. ft. brewery, taproom and restaurant on Thursday, October 11.
In the latest edition of People Moves: Anchor appoints a new VP of sales; Constellation Brands promotes from within; Fair State Brewing nabs an ex-Surly brewer; MillerCoors selects new VP of the Coors brand family; and the NBWA hires a new VP of communications.
Buffalo Wild Wings’ presence at the 2018 Great American Beer Festival was merely an appetizer. The chicken wing restaurant, one of the largest chains in the U.S., will be regular menu item at numerous Brewers Association (BA) events over the next two years, including the 2019 GABF, the Craft Brewers Conference (CBC) and Homebrew Con. Its presence at additional BA events is part of a three-year sponsorship agreement with the trade group, Buffalo Wild Wings beverage innovation manager Jason Murphy told Brewbound.
Massachusetts-based brew-it-yourself bar and restaurant Hopsters has once again turned to equity crowdfunding in an effort to help finance a planned $4 million expansion into Philadelphia. One year after securing $1.3 million from 713 investors via Wefunder, which enabled the company to open its Boston Seaport location, Hopsters is again looking to raise more than $1 million from unaccredited investors.
In this week’s Last Call: Founders Brewing is sued for alleged racial discrimination; the New Jersey ABC suspends its taproom ruling; the Beer Institute expresses disappointment in continued aluminum tariffs; and more news.
A pair of small Michigan beer companies are set to merge in an effort to better compete with larger brewing operations. Royal Oak-based Roak Brewing Co. announced this week that it is in the process of acquiring Traverse City’s Right Brain Brewery. Speaking to Brewbound, Roak Brewing co-owner and CEO John Leone said the deal is expected to close in the next 60 to 90 days, pending approval from the Michigan Liquor Control Commission. He declined to share specific financial terms of the deal, noting that some details of the transaction are still finalized.
Constellation Brands reported its second-quarter fiscal 2019 earnings today, which were highlighted by 10.1 percent growth in beer depletions (sales-to-retailers) and an 8.7 percent increase in shipments (sales-to-wholesalers) for the comparable three-month period ending August 31. Net sales of Constellation Brands’ beer portfolio increased 10.5 percent during the quarter, to more than $1.5 billion.
In episode four of the Brewbound Podcast, editor Chris Furnari sits down with Braxton Brewing co-founder Jake Rouse to discuss his journey as a beer entrepreneur, collaboration and partnership strategies, and managing rapid growth.
Florida’s Cigar City Brewing, which sold to the Fireman Capital-backed Canarchy Craft Brewery Collective in 2016, is quickly emerging as the consortium’s most promising brand. Growing at more than 60 percent year-to-date, the Tampa-based craft brewery has already shipped more than 107,000 barrels of beer through the first nine months of 2018 and is on pace to produce an estimated 143,000 barrels.
Citing a “challenging” craft beer market, California’s Lagunitas Brewing said Tuesday that it would slash 12 percent of its workforce in a move that will impact at least 100 employees. The announcement comes about 17 months after Heineken International completed its purchase of the Petaluma-headquartered craft brewery.
The craft brewing industry has reached its “most competitive moment,” but that’s not necessarily “a bad thing,” Dogfish Head co-founder Sam Calagione said during a “state of the industry” panel discussion at the final Brew Talks meetup of 2018. Calagione, along with Revolution Brewing chief commercial officer Donn Bichsel and Canarchy Brewery Collective president and COO Matt Fraser, explained to more than 150 beer industry professionals how they’re navigating through the so-called “noise” in the space.
Another round of leadership changes is on tap at Anheuser-Busch. Months after splitting its so-called “High End” craft and import division into two separate business units, and after it reorganized its North American sales and marketing teams, Anheuser-Busch today announced that Felipe Szpigel would leave his post as president of the craft business unit for a newly created position within the company.
“We budget to fail,” Monday Night Brewing co-founder Jeff Heck shared during Brewbound’s final Brew Talks meetup of 2018. Joining a panel discussion that examined innovation within the craft space, Heck along with The Bruery founder Patrick Rue and Calicraft Brewing founder Blaine Landberg, gave more than 150 beer industry professionals a peek into their individual innovation strategies, which includes both success and failures.