Justin Kendall provides daily coverage of the beer industry on Brewbound.com, conducts live-streamed interviews during Brewbound’s events and co-produces the Brewbound podcast. Kendall is a nearly 20-year career journalist who led alt-weekly newspapers in Kansas City, Missouri, and Des Moines, Iowa.
How much is a distressed craft brewery worth in 2018? Somewhere north of $8.25 million, if the scene at New Hampshire’s Smuttynose Brewing earlier today is any indication. An auction run by James R. St. Jean Auctioneers for Smuttynose ended with the company’s banker, Provident Bank, reclaiming the brewery for $8.25 million on Friday afternoon. Immediately after the auction concluded, Norman Rice, a local tech entrepreneur, approached the bank about purchasing the Portsmouth-based company.
In this week’s Last Call: President Trump imposes tariffs on steel and aluminum; Heineken attempts to acquire a majority stake in United Breweries; Three Floyds’ expansion plans are approved; and more.
Craft Brew Alliance (CBA) CEO Andy Thomas repurposed an old presidential metaphor during Thursday’s 2017 financial results call with investors and analysts to illustrate the publicly traded company’s health.
Craft Brew Alliance (CBA) officially announced its 2017 earnings today, which fell in line with preliminary financial results shared on February 1. Those results were again highlighted by net sales increasing 2 percent to more than $207.5 million and 10 percent depletion growth for the Hawaiian-themed Kona brand.
After pulling distribution from two states last year, Santa Fe Brewing Company is re-focusing its efforts on growing sales in its home state of New Mexico and seven other core markets. Santa Fe director of sales and marketing Jarrett Babincsak told Brewbound that the company decided to dig deeper in its eight-state footprint due to the increasingly more difficult challenge of selling beer away from a home territory.
After two consecutive years of single-digit sales declines, Sierra Nevada Brewing is refocusing its efforts on selling its flagship Pale Ale while also telling its story to consumers.
In the latest Legislative Update: Sunday sales are now legal in Indiana; South Dakota is on the verge of increasing its barrel cap; tensions run high in Maryland; and more state news.
In a move that would have wide-ranging effects on the beer industry, President Donald Trump yesterday announced plans to implement a 10 percent tariff on imported aluminum. The move comes weeks after the Commerce Department recommended tariffs on aluminum and steel as a national security precaution, citing the nation’s inability to build military weapons without foreign steel and aluminum.
Sales of craft beer grew 6 percent in the U.S. last year, industry consultant Bump Williams shared during Thursday afternoon’s Brewers Association Power Hour. And that growth, Williams said, is not coming from mainstream craft brands, but new local brewers as well as strong regional and national players like Bell’s Brewery, Stone Brewing, Dogfish Head Craft Brewery, and Allagash, among others.
Seven months after acquiring Texas-based Uncle Billy’s Brewery, Artisanal Imports co-founder and CEO Bob Leggett has purchased the Pedernales Brewing Company brands. Financial terms of the deal, which closed at the start of the year, were not disclosed. The transaction did not include Pedernales’ Fredericksburg brewery, which former Pedernales owner Lee Hereford said is in the process of being sold to a yet-to-be-named buyer.
Ian Schuster, the founder of Bay Area-based Schubros Brewery, is attempting to raise more than $1 million via equity crowdfunding to build a brewery in Tianjin, China. To do so, Schuster has formed the San Francisco East Bay Brewing Inc. (SFEBB) holding company and he’s selling 23 percent of the company to non-accredited investors through WeFunder, a Securities and Exchange Commission-approved third-party crowdfunding portal, at $250 a share.
Citing a need for better representation on legislative matters, nine New Jersey craft brewers today announced the formation of a new state trade group — the Brewers Guild of New Jersey. Many, if not all, of those breweries will not be renewing their memberships with New Jersey’s existing guild, the New Jersey Brewers Association, Brewbound… Read more »
In this week’s Last Call: More than 3,000 brewers sign up to use the Brewers Association’s independence seal; a study finds that Generation Z consumers drink less alcohol; MillerCoors announces plans to transfer all of its cider production to Milwaukee; and more news.
