In the acquisition age, few craft brewery founders are “selling in.” But that’s exactly the route Charles and Rose Ann Finkel, the founders of Seattle-based Pike Place Brewing, have taken. The company today announced the sale of a “significant minority” stake to three key employees: Drew Gillespie, Vice President Operations; Patti Baker, Vice President Controller; and Gary Marx, Executive Chef.
In an effort to keep up with the growing consumer desire for local craft brands, executives from Craft Brew Alliance stressed the importance of their 2016 regional strategy during the company’s annual national CBA-Con meeting with Anheuser-Busch InBev wholesalers, held on Wednesday in Las Vegas.
Recently, some of the biggest headlines in the craft beer industry haven’t been about the beer; they have been about the mergers and acquisitions of the brewers of the beer. With the increased frequency of craft brewery transactions, owners should be thinking about what the future holds for their business (and what could be their most valuable asset). That future may include a transition to a family member, selling only a part of the business in order to fund growth or to allow owners to take some chips off the table or, in the right circumstances, to sell the entire business. Even if you have no immediate plans or desire to sell or transition your business, these tips will help you position your business so that you can take advantage of opportunities and respond to challenges that cause you to rethink your plans.
In an effort to continue providing our audience with valuable insight in areas like finance, investment, branding, marketing, sales, and distribution, we’re excited to introduce “Brewbound Voices,” an avenue for experts to contribute their knowledge to our readership. Kicking off the initiative is Mike McCann, the chairman of Kansas-City-based law firm Spencer Fane’s corporate practice group.
Anheuser-Busch InBev and SABMiller are one step closer to making history after tentatively agreeing to a merger worth nearly $104 billion, a deal that would be the largest takeover in U.K. history. In a press statement, Anheuser-Busch InBev said Tuesday that it reached an agreement, in principle, to acquire a majority of the London-based SABMiller for 44 pounds a share.
Presentations from the 78th annual National Beer Wholesalers Convention, being held at the Caesers Palace in Las Vegas, concluded this afternoon with a panel of industry leaders who discussed, among other topics, the pending tie-up of the world’s two largest beer companies. Five prominent brewery executives (listed below) joined the panel, which was moderated by Mike Gretz, president of Gretz Beer Company, a wholesaler in Hatfield, Penn.
Craft Brew Alliance today announced that Kurt Widmer, the co-founder of Widmer Brothers Brewing and the current chair of the CBA board, would resign at the end of the year. In an effort to support the transition as CBA’s board of directors selects a new chairperson, Kurt Widmer — who started the brewery with his brother Rob Widmer in 1984 — will remain in his role through December 31, 2015 and assume the honorary title of Chairman Emeritus upon exiting, the company said.
Revolution Brewing has announced plans to officially expand distribution to Massachusetts, signing with Massachusetts Beverage Alliance (MBA) for statewide coverage beginning Nov. 2. The decision to begin selling beer on the east coast is more of a personal one for Revolution founder Josh Deth, who was born and raised in Newton, Mass., a Boston suburb.
Tweet Away, California Brewers At last, California-based beverage alcohol producers will be able to encourage purchasing via twitter and other social media platforms. Gov. Jerry Brown last week signed Assembly Bill 780, which enables brewers, distillers and vintners to identify retailers of their products on social media, according to the San Francisco Business Times. The… Read more »
The craft deals keep coming, this time north of the border. Labatt Breweries of Canada, a subsidiary of Anheuser-Busch InBev, today announced it has acquired Toronto’s Mill Street Brewery. Terms of the transaction were not disclosed.
Constellation Brands is making its first foray into craft, this week introducing a new line of beers made in partnership with celebrity chef Rick Bayless and inspired by traditional Mexican ingredients. Operating under the identity “Tocayo,” which loosely translated means “of the same name,” Constellation’s first product, Tocayo Hominy White Ale, is a Belgian-style witbier brewed with hominy, a white corn popular in Central American and Mexican cuisine.
Recently reborn as an “aggressively laid-back” beer company, Stony Creek Brewery is living up to the tagline by quietly scaling production to more than 10,000 barrels during its first 12 months since taking up residence in a newly constructed Branford, Conn. brewing facility. Originally formed in 2010 by Manny Rodriguez and Peggy Crowley, the wife of former Dichello Distributors co-owner Ed Crowley, Stony Creek first launched as a contract-produced craft brand focused on beers named after regional area codes.
SABMiller, the world’s second-largest beer company, this morning rejected a third takeover bid, worth $104 billion, from the larger Anheuser-Busch InBev saying that the offer “substantially undervalues” the company. After a meeting, SABMiller’s 16-member board, excluding three directors nominated by U.S. tobacco company Altria Group Inc., its largest shareholder, formally considered and rejected A-B InBev’s third proposal of 42.15 pounds per share in cash (USD $64.49)
Otter Creek Brewing yesterday broke ground on an expansion that will more than triple its annual production capacity, ultimately making it Vermont’s largest brewery by volume.
