Southern Tier Brewing, a fast-growing top-50 craft brewery based in upstate New York, today announced it has sold a percentage of its business to Ulysses Management LLC, an investment firm with offices in New York City. Specific terms of the deal were not disclosed, but Southern Tier co-founder Phineas DeMink told Brewbound that he would retain a financial interest in the company and remain in a leadership role.
Through the first nine months of this year, IRI numbers are once again telling a familiar story: Craft and cider continue to carry the beer segment’s growth across multi-outlet and convenience channels (MULC) with dollar sales swelling 21.3 percent and 82.1 percent, respectively.
Hold on to your trucker hats, America’s most hipster beer company is reportedly being sold to the Russians. Both the Wall Street Journal and the New York Times are reporting that Pabst Brewing Company — the Los Angeles-based producer of heritage beer brands like Pabst Blue Ribbon, Lone Star and Olympia — will be sold for upwards of $750 million.
Yet another U.S. craft brewer has embarked on a unique, international retail opportunity.Devils Backbone Brewing has inked an exclusive licensing arrangement with the British retail chain J D Wetherspoon plc, which owns and operates more than 900 different-branded pubs and 32 hotel locations throughout Britain.
On the heels of what may go down as the worst week in the history of the National Football League (NFL), one of its largest sponsors, Anheuser-Busch (A-B), is speaking out. A-B issued a statement Tuesday expressing concern over the NFL’s handling of recent off-field incidents involving active players who are alleged to have abused women and children.
Sam Calagione and Dogfish Head are investing in a growing craft spirits segment. Calagione, who described the recent influx of small-batch spirit producers as a “revolution,” believes Dogfish, the company he founded in 1995, has an opportunity to once again extend the brand outside of the beer category.
Victory Brewing will expand distribution throughout Nevada per an agreement with Southern Wine & Spirits, the brewery announced yesterday.The company, based in Downingtown, Pa., plans to launch in Nevada on September 20. The state will be the 35th in Victory’s distribution footprint.
New Belgium today announced the promotion of current chief financial and chief operations officer, Christine Perich, to the position of president. Perich, who joined the company as CFO in 2004, has overseen all facets of operations since 2009. She was instrumental in guiding the company through its second employee stock ownership program transaction in 2012.
Boulevard Brewing has announced plans to expand distribution throughout Florida per an agreement with Brown Distributing, an Anheuser-Busch wholesaler. Boulevard beers will be available to the market beginning early October, according to a statement issued by the company, growing its total distribution footprint to 28 states and the District of Columbia.
Just days after Brew Hub officially opened the doors to its Lakeland, Fla. facility, the “partner brewing” venture today announced its next location: St. Louis, Mo. The company plans to begin construction on a $20 million, 200,000-barrel craft brewery in Chesterfield, Mo. later this year.
Boston Beer is going vertical in the U.S. cider category. The company, which produces and markets the Angry Orchard line of hard ciders, has agreed to purchase a 60-acre orchard in upstate Montgomery, New York. Terms of the deal have not been disclosed.
Let’s talk numbers again, shall we? IRI’s principal of Beverage Alcohol Clients Insights, Dan Wandel, joined last week’s Power Hour webcast hosted by the Brewers Association’s and shared a ton of positive trends for craft brewers.
In addition to broadening its distribution footprint, Colorado’s New Belgium Brewing is now expanding its political reach. Last month, the Fort Collins-based brewery filed paperwork to create its own national political action committee (PAC), a move that company spokesman Bryan Simpson said will enable New Belgium to strengthen its voice at both the state and national levels.
Victory Brewing today announced plans to expand its presence in the mid-atlantic region as the company looks to open a new brewpub in Leesburg, Va. It’s the company’s fourth such establishment, but the first outside of its home state of Pennsylvania. Located inside a 110,560 sq. ft. mixed-used development belonging to the private equity real estate firm L4 Capital Partners, the brewpub, which will span three floors, will open in the second quarter of 2016.
