Two more popular craft breweries have announced that their taprooms will be hibernating this winter as colder weather makes outdoor service infeasible, and COVID-19 cases continue to rise nationwide. Chicago-headquartered Revolution Brewing and Canton, Massachusetts-based Trillium Brewing both said this week that they will be temporarily shuttering their locations for on-premise service through the winter.
Forget product, price, promotion, and all that. For Molson Coors Beverage Company, 2020 has been defined by three words that start with the letter P: persistence, perseverance and progress, CEO Gavin Hattersley said during the company’s third quarter earnings call today.
Alcohol e-commerce platform Saucey and Los Angeles-area cannabis delivery business Emjay have combined to form Pacific Consolidated Holdings, the company announced today.
Pacific Northwest-based hospitality and brewpub chain McMenamins has launched the second phase of its investment drive as it seeks to raise as much as $15 million from accredited investors. Green Bay, Wisconsin-based Titletown Brewing is seeking a new owner or investors due to the COVID-19 pandemic hampering sales.
Dexter, Michigan-based Jolly Pumpkin Artisan Ales has opened a new cafe and brewery in East Lansing, Michigan, the company’s ninth location. Uinta Brewing’s new pub at Salt Lake City International Airport marks its first offsite expansion since opening in 1993. Brooklyn, New York-headquartered Other Half Brewing opened its third brewery and taproom in Washington, D.C., last week.
The leveling up of Millennials and Generation Z consumers is a bright spot on the horizon for craft beer, the beer industry’s leading economists said during last week’s Brewers Association Collab Hour webinar. “There’s really good tailwinds for craft,” Brewers Association (BA) chief economist Bart Watson said.
The bar and restaurant industry will find little comfort in the most recent report from Nielsen CGA. With colder temperatures around the country threatening to put a damper on outdoor dining and COVID-19 cases on the rise in the majority of states, about half of all adults say they have no intention of returning to dining or drinking outside their homes soon, the on-premise arm of market research firm Nielsen found.
After posting strong double-digit growth in shipments, depletions and revenues on the back of Truly Hard Seltzer and Twisted Tea in the third quarter, Boston Beer Company stock (SAM) topped the $1,000 mark for the first time ever, up from $371.12 at the start of 2020. As of press time (2 p.m. ET October 23), shares were trading at more than $1,066 (+15% and more than $145 than the previous day).
Craft brewers’ sales improved during the third quarter of 2020, but are still far off from where they were in 2019, according to a new analysis by Brewers Association (BA) chief economist Bart Watson. Combining several datasets tracking on-premise sales, Watson found that Q3 sales fell 22% below baseline, a marked improvement over Q2’s 45% below baseline.
Tourists and a pandemic don’t mix. Salem, Massachusetts-based Notch Brewing announced Wednesday that it would close its biergarten for on-site service beginning Friday through November 1, as its hometown faces a deluge of tourists in the lead up to Halloween.
After six years of contract brewing with partners in the far corners of Massachusetts, Springfield-based White Lion Brewing now has a space to call its own at the city’s Tower Square development. “It’s been a journey, but through perseverance, a good team and good support, we are where we are right now,” White Lion founder Raymond Berry told Brewbound.
Following the announcement yesterday that Danish brewer Mikkeller has shuttered its brewery at the New York Mets’ home Citi Field, Fountain Beverage and EBBS Brewing Company will take over the 10,000 sq. ft. space.
In its first analysis of the U.S. packaging industry, financial services firm Credit Suisse said its medium-term outlook of the industry is “bullish.” The can industry is being strained from several directions, as the COVID-19 pandemic’s restrictions on the on-premise channel has shifted a chunk of Americans’ beer consumption from draft to cans and new product introductions, including those in the $3.49 billion hard seltzer industry, lean heavily toward cans. Additionally, can production has slowed over several years.
Founders of three of Massachusetts’ oldest craft breweries shared insights and advice for the next generation of Bay State craft brewers during the virtual Mass Brewers Guild conference earlier this month. “Expect to work your ass off,” said Jim Koch, founder of Boston Beer.