Modern Times Beer Co. today announced the implementation of an employee stock option plan (ESOP), giving workers a minority ownership stake in the company. In order to form the ESOP, Modern Times repurchased 30 percent of its total equity from 11 silent investors via a bank loan from Comerica and cash from the company.
Last month, nearly 200 beer industry professionals converged on New York City for the Brewbound Session business conference and videos from the event are now available for viewing. Held on June 15 at the at the Metropolitan West, the summer 2017 edition of our bi-annul business conference featured a variety of thought-provoking conversations with craft brewery founders, interactive panel discussions with retailers and distributors, and engaging presentations from the likes of Nielsen, First Beverage Group and Harpoon Brewery.
In this week’s Legislative Update: Delaware increases the state tax on alcohol; North Carolina approves the so-called ‘Brunch Bill’; 48 breweries oppose Clean Water Rule changes; and more.
In an effort to broaden its innovation pipeline and grow its direct-to-consumer business, Maryland’s Heavy Seas beer will invest upwards of $2 million to expand its brewery and taproom. In an interview with Brewbound, brewery founder and managing partner Hugh Sisson said the project, which will be financed through a combination of cash flow and bank debt, would include the installation of a new 15-barrel pilot brewing system (for research and development) and a more robust canning line.
Less than a week after announcing a joint brewing venture in Hong Kong, Brooklyn Brewery and Carlsberg this week announced the acquisition of United Kingdom-based London Fields Brewery.
In our latest edition of Brewbound Voices, Beer Business Finance founder Kary Shumway returns to discuss self distribution. Shumway has worked in the beer industry for over 20 years as a Certified Public Accountant and currently serves as the Chief Financial Officer for Clarke Distributors, Inc. in Keene, New Hampshire. In part II of his column for Voices, Shumway dives deep into the process of self distributing, discussing account and route building, proper cash flow management practices, the “hidden” costs of operating in a self distribution model and succession planning.
In our latest edition of Brewbound Voices, Beer Business Finance founder Kary Shumway returns to discuss self distribution. Shumway has worked in the beer industry for over 20 years as a Certified Public Accountant and currently serves as the Chief Financial Officer for Clarke Distributors, Inc. in Keene, New Hampshire. In part I of a two-part column for Voices, Shumway begins deconstructing the ins and outs of self distribution. He discusses the advantages and disadvantages of self distribution while profiling one brewery he believes is doing it well.
After six consecutive years of double-digit growth (2010-2015) within the craft beer segment, and a three-year period of intense merger-and-acquisition activity (2014-2016), brewery multiples are beginning to normalize, according to First Beverage Group managing partner Townsend Ziebold.
Brooklyn Brewery announced its fourth international brewing venture this week with the formation of HK Yau Brewing Company in Hong Kong.
Constellation Brands today reported its first quarter fiscal 2018 earnings results, which were highlighted by 8 percent net beer sales growth.
Drink Craft Beer LLC, a Boston-based beer festival organizer, has purchased various assets of The Pintley Company, an events business that helped craft breweries promote their products through various meetups across the United States. Specific financial terms of the transaction, which closed earlier this month, were not disclosed, Drink Craft Beer co-founder Jeff Wharton told Brewbound.
Even though 83 percent of the beer St. Louis’ 4 Hands Brewing produces stays within Missouri borders, founder Kevin Lemp wants even more of it to remain local.
In Tuesday’s edition of Press Clips: Utah lawmakers consider the end of 3.2 beer; a study finds Michigan has the cheapest cases of beer in the nation; River North Brewery announces return to its namesake neighborhood; and more.
The Brewers Association – a not-for-profit trade group representing the interests of small and independent U.S. craft breweries – today debuted an official “independent craft brewer seal” that it hopes brewery owners will “proudly display” on packaging, marketing materials, merchandise, websites and in taproom windows, among other places. The marker is aimed at helping drinkers distinguish between beers produced by small craft beer companies and those made by multinational corporations, such as Anheuser-Busch InBev, which has purchased 10 craft breweries since 2011.
