Less than a year after it was sold to a private equity firm, Minnesota-based Cold Spring Brewing Company is now on the buy side of a deal. Brynwood Partners, a Connecticut-based private equity firm with existing investments in a variety of food and beverage companies, yesterday announced that Cold Spring Brewing had purchased Carolina Beverage Group.
A lawsuit brought by two North Carolina breweries that challenges the constitutionality of the state’s distribution laws is inching toward a trial. Last Thursday, Superior Court Judge Allen Baddour denied the state’s motions to dismiss the case or send it to a three-judge panel. A trial date has not been set.
Molson Coors Brewing Co. chairman Pete Coors is grabbing headlines for the second consecutive week. Last Monday, Coors issued an “open letter” to the Brewers Association, chastising the trade group’s leaders over negative comments made about “big beer” during the annual Craft Brewers Conference. Now, Coors has scored himself an op-ed in the Wall Street Journal, and he’s turned his focus toward President Donald Trump and a recently imposed 10 percent tariff on imported aluminum.
When John McDonald founded Boulevard Brewing Company in 1989, he never envisioned that the company would grow to 178,000 barrels and sell beer in 40 states. You can listen to McDonald discuss these topics, and more, on episode 111 of Taste Radio.
Ninkasi Brewing co-founder Nikos Ridge is back at the helm as CEO of the Eugene, Oregon-based craft brewery after just one year away from the position. In a press release issued last Friday, the company said Cheryl Collins, who took over as CEO of the company last May, would step down from the post on June 18.
Nearly three years after being acquired by Anheuser-Busch InBev, Los Angeles’ Golden Road Brewing is beginning to see the advantages of being owned by the world’s largest beer manufacturer. In the last six months, Golden Road has launched its flagship Wolf Pup Session IPA nationally, and opened a pair of satellite brewpubs in California. According to market research firm IRI Worldwide’s multi-outlet and convenience (MULC) universe of stores, sales of the company’s beer have increased 100 percent through April 29.
After releasing its first quarter earnings results on Wednesday, which were marked by a 4 percent decline in depletions, Craft Brew Alliance CEO Andy Thomas addressed the “relative turmoil within the marketplace” during a call with investors and analysts. “The trends are consistent and increasingly clear,” he said. “Consumers are changing how, where, and with what they socialize. And the impacts on our industry continued to be profound.”
In this week’s edition of Last Call: Another brewery files for bankruptcy; Stone seeks to dismiss MillerCoors’ counterclaims; Tree House and Jester King announce expansion plans; BrewDog and Terrapin announce new hires; and more.
The Beer Institute (BI) is forecasting U.S. beer shipments to decline between one and three percent in 2018, chief economist Michael Uhrich shared during the national trade association’s “State of the Industry” webinar today.
With more than 6,300 breweries competing for consumer mindshare in today’s crowded beer environment, standing out is a “constant battle.” That’s how Neal Stewart, vice president of marketing for Dogfish Head Craft Brewery, described the difficulty of differentiating a craft brand in 2018 during last week’s Brew Talks meetup, held during the annual Craft Brewers Conference in Nashville, Tennessee.
Craft Brew Alliance (CBA) today reported its first quarter 2018 earnings, which were highlighted by a 9 percent increase in shipments, to 167,000 barrels, on soft comps from a year ago. In a press release, the company – which makes and markets the Kona, Widmer Brothers, Redhook, Omission, and Square Mile Cider brands – said net sales increased 7 percent, to $47.5 million, while gross profit increased 19 percent, to $15.1 million, during the quarter.
Calagione — along with Brooklyn Brewery VP Dave Duffy, The BWC Company director of analytics Dave Williams and Lowes Foods senior category manager Charles Slezak — discussed the evolving craft landscape and more during a panel discussion on “Retail Strategies for Craft Brewers.
Anheuser-Busch InBev today reported global revenue growth of 4.7 percent in the first quarter of 2018 even as the company’s domestic shipments and depletions decreased due to continued declines of the its flagship lager brands. A-B, the world’s largest beer manufacturer, recorded global revenue of more than $13 billion during the quarter and a gross profit of more than $8 billion. The company’s revenue per hectoliter increased 4.9 percent.
More than a month after Sonoma Beverage Works lost its investor funding and abruptly ceased operations, the assets of the Northern California cider and wine company are being liquidated. According to an April 17 notice to creditors, Sonoma Beverage Works, whose brands include Sonoma Cider and Ahoy Wines, transferred ownership of the company’s physical assets and intellectual property to Structured Solutions, a California-based liquidator, on April 7 in order to recoup creditors’ money.