Constellation Brands (STZ) is shrugging off the stigma surrounding marijuana and further diversifying its buzz. The New York-based company, which makes and markets a variety of beer, wine and spirits products, today confirmed plans to become the first major alcohol manufacturer to formally expand into the marijuana business via the purchase of a 9.9 percent stake in Canada’s Canopy Growth Corporation (WEED).
Anheuser-Busch InBev today reported its third-quarter earnings, highlighting global revenue growth of 3.6 percent for the three-month period ending September 30. Despite the increased earnings, A-B InBev’s worldwide beer volumes fell by 1.5 percent while U.S. shipments to wholesalers dropped a whopping 6.4 percent during the quarter.
In the two years since Stone Brewing founder Greg Koch announced he would step down as CEO, a number of key executives have departed the organization. The latest? Stone Brewing’s chief operating officer, Pat Tiernan, who left last week, Brewbound has learned. Reached via email, a spokeswoman with the San Diego-based craft brewery confirmed Tiernan’s exit, but did not offer any explanation for his departure, saying only that he “resigned.”
In my opinion, these five beers have the potential to bring new drinkers into the category, something that is so desperately needed now that brewing companies have collectively lost 11 billion servings of beer to wine and spirits over the last 20 years.
A majority of U.S. senate members now support legislation that would reduce excise taxes on all brewers and importers. According to a press release jointly produced by six beverage lobbying groups, including the Beer Institute and the Brewers Association, 51 senators have co-sponsored Senate Bill 236, known as the Craft Beverage Modernization and Tax Reform Act (CBMTRA).
In an effort to reignite its 2012 fight with “big beer,” the Brewers Association — a national trade group representing the interests of America’s small and independent brewers – today unveiled a faux crowdfunding campaign that aims to “buy” the world’s largest beer company, Anheuser-Busch InBev, for $213 billion. The crowdfunding campaign, as well as the $10, $50, $100 and $1,000 pledges aren’t real, but the intent of the media offensive is.
Two Roads Brewing broke ground today on a $12 million expansion project, dubbed “Area Two Experimental Brewing,” which will enable the Connecticut-based craft brewery to expand production of its sour and barrel-aged offerings. First announced last November, the new 25,000 sq. ft. brewery, which is situated on 2.5 acres of land adjacent to its existing Stratford production facility, will feature a 50-barrel brewhouse, foeders, a coolship and space for 1,500 wooden barrels.
In this week’s distribution roundup: Lord Hobo adds New Jersey and Pennsylvania; Two Brothers expands to Tennessee; Ska Brewing hits Iowa and Surly launches in Colorado. Additionally, Moody Tongue expands to Wisconsin and Alesmith Brewing lands in Georgia.
Fueled by $35 million in venture funding from Sequoia Capital, one of Silicon Valley’s most iconic VC firms, India’s Bira 91 is on pace to produce an astonishing 300,000 barrels in just its third full year on the market. Launched in February 2015, Bira 91 has amassed a cadre of millennial consumers throughout India who don’t identify with major brands such as Kingfisher, Budweiser, Heineken and Carlsberg, according to founder Ankur Jain.
Each year, during the Great American Beer Festival in Denver, Colo., Boston Beer Company invites members of the media to be among the first to taste its new focus items. The latest? A 4.7 percent ABV lager, called Sam ’76, that is brewed with craft’s most en vogue hops — cascade, citra, mosaic, simcoe and galaxy – and fermented with both lager and ale yeast strains.
Former New Belgium Brewing CEO Christine Perich, who had been leading World Waters, maker of the high pressure processed juice brand WTRMLN WTR, has stepped down from her role as CEO of the non-alcoholic beverage company due to personal health reasons. News of her departure was first reported on Wednesday by Brewbound’s sister publication BevNET.
10-Year old Mission Brewery is on the hunt for capital, and, in an effort to stay in business for another 24 months, the company has turned to the everyday craft beer drinker for help.
In an effort to help wholesalers, retailers and consumers better understand the differences between a growing number of hard ciders now being sold across the country, the United States Association of Cider Makers (USACM) today unveiled its first-ever set of style guidelines.
The executive shuffle at Pabst Brewing Company continued on Thursday, as the company announced the appointment of a new chief marketing officer to oversee its entire portfolio of heritage, craft, import, cider and flavored malt beverage brands. Matt Bruhn, who most recently served as the CMO for GWA Group Limited, an Australian supplier of building fixtures and fittings, will formally take over as the CMO of Pabst on October 2, according to a press release.