In a hybrid management buyout and employee stock ownership transaction, Odell Brewing will sell 70 percent of the company to brewery employees, co-founder and CEO Wynne Odell told Brewbound. The deal, first announced late last night, will see 51 percent of the company transferred to three members of the executive management team — director of sales Eric Smith, COO Brendan McGivney and CFO Chris Banks. 19 percent of the company will be sold remaining brewery employees (currently 115).
Another Colorado craft brewery has turned ownership over to its employees. Fort Collins-based Odell Brewing tonight announced the establishment of an employee stock ownership plan, selling 19 percent of company stock into a newly formed trust in which all 115 employees will participate.
Another top U.S. craft brewery is changing hands. As announced late last night, Duvel Moortgat will add to an impressive roster of American craft brands – one that already includes Kansas City’s Boulevard Brewing and New York’s Brewery Ommegang — by “combining” its U.S. operations with California’s fourth largest craft beer company, Firestone Walker Brewing.
Firestone Walker and Duvel Moortgat have agreed to “combine their two companies” in the USA, according to a press release. Specific financial details were not disclosed. In a note posted to its website, Firestone Walker founders David Walker and Adam Firestone described Duvel Moortgat’s investment in the company as a “partnership,” and a “elegant solution that will enable us to grow within a framework that meets our standards.”
Ithaca Beer Company will triple production capacity at its Upstate New York facility as it expands into 24,000 additional sq. ft. of space over the next eight months, the company announced today. Ithaca, which made 24,000 barrels of beer last year, will eventually be capable of producing and packaging upwards of 90,000 barrels once the buildout is complete.
Pabst Brewing Company today announced its intent to construct a new brewery on the site of the original Pabst brewery in Milwaukee, Wisconsin. In a press release, the company said it plans to sign a multi-year lease on a building within the Pabst brewery “complex,” a mixed-use site that has already been partially redeveloped to include office buildings and hotel.
Ninkasi Brewing is broadening its footprint once again, this time to Texas. The Eugene, Ore.-based craft brewery today announced it has signed a distribution agreement with Andrews Distributing for full-time coverage in Dallas.
On the heels of a $7 million brewery expansion, fast-growing Virginia craft brewery Devils Backbone today announced it would expand distribution to neighboring North Carolina, beginning in August. The company also plans to launch in Tennessee and West Virginia later this year, as part an effort to enter five new states over the next 12 months, according to Hayes Humphreys, chief operating officer.
Already known for his prolific use of Twitter, Lagunitas founder Tony Magee has unshackled himself from the 140-character limits of the Twitterverse and setup shop on Tumblr, a free “microblogging” platform. The outspoken owner of one of the fastest-growing craft breweries in America has published four entries since first launching the blog, “Fermenting Ideas of Order,” on July 9.
Fast-growing Central California craft brewery Figueroa Mountain Brewing today announced the opening of its latest brewery taproom, located in Arroyo Grande, Calif. The company took over a former Applebee’s location, remodeling the restaurant to include a 15-barrel brewhouse and seating for 200. “We are honored to be part of the Arroyo Grande community as the… Read more »
In an effort to measure the operations of America’s craft breweries, the Brewers Association – which represents the interests of small and independent U.S. brewers – recently published the results of its annual “Brewery Operations Benchmarking Survey.” This year’s review, based on 2014 operations, featured responses from 310 unique breweries in 46 states, all of which responded to questions in the areas of human resources, sales & marketing, brewing and financial operations.
Two California beer distributors are growing their portfolios via acquisition. DBI Beverage Inc. and Valley Wide Beverage Company have expanded their operations in Central California with the joint purchase of assets from Ceres-based Cencal Beverage Co., LLC., the two companies announced in a statement.
At last, Notch Brewing founder Chris Lohring will have his very own brewery. Lohring, who launched the session-minded Notch as a contract craft brand in 2010, today signed a lease for a 6,000 sq. ft. research & development facility on the outskirts of Boston.
The opportunity to deploy a good pun never escapes the folks over at Craft Brew Alliance. A “swelling” number of beer drinkers are purchasing the company’s Hawaiian-themed session brand, Kona Big Wave, according to a press release. Citing recent IRI data, CBA said that annual Big Wave Golden Ale sales are up 66 percent – or as the company also put it: “four times the growth rate of the entire craft beer category.”
