Sometimes you can’t just easily wrap up a story. The sale of Modern Times is one of those stories.
The latest in the Modern Times ownership saga is the deal to merge with Maui Brewing and form the Craft ‘Ohana platform closed last weekend.
Noted scoop-lover Jess Infante reported that the final price tag was $10 million, not quite the $15.3 million Maui bid during the auction process. But that’s not all. Modern Times CEO Jennifer Briggs, who was slated to continue on with Craft ‘Ohana as chief experience officer, has decided to go in a different direction in an amicable split.
Also, carved out of the Modern Times sale to Maui was its Lesiuretown taproom in Anaheim – the one with the pool, which, as you can imagine, was its most expensive location. Leisuretown went on permanent vacation in mid-October.
Jess and I will discuss all things Modern Times and Craft ‘Ohana with Briggs and Maui Brewing founder Garrett Marrero during our Brewbound Live business conference in Santa Monica on November 29. Join us for networking, more beer business conversations and beers.
Speaking of Brewbound Live, the full agenda is now available.
Also this week, Jess, Zoe and I chatted with Winking Lizard Tavern owner John Lane about the reveal of the Ohio craft beer-focused restaurant chain’s beer menu for 2023. This is an in-person event Lane holds annually for suppliers and he shares more about the festivities.
In other news …
Austin, Texas-based aluminum can and packaging supplier American Canning is now an “official distributor” of blank and printed brite cans for global can manufacturer Ball Corp. Did someone say one truckload of printed cans per SKU? Yep.
More good news? Sure. Data from beer-centric social media platform Untappd shows that traffic at brewery taprooms has recovered to 117% of January 2019 levels.
Molson Coors CEO Gavin Hattersley said the U.S. consumer “remains resilient,” as trade up to premium offerings continues and there aren’t signs of “significant channel shifting.” More in TAP’s Q3 earnings report.
There’s another soda company testing the bev-alc market; Jarritos maker Novamex. And they have a big partner, Anheuser-Busch InBev. Next spring, they’ll launch Cantaritos Hard Sodas – with flavors inspired by Jarritos – in California and Texas markets.
In spirits, Diageo and Campari both made acquisitions. Also, Spirits portfolio company Next Century Spirits has acquired XED Beverages, the maker of cocktail-inspired hard seltzer brand Sesh.
OK, some not so great news. The amount of beer at-risk of expiring in the next 30 days in wholesalers’ warehouses has reached its highest level in recent months, per the National Beer Wholesalers Association’s (NBWA) October Beer Purchasers’ Index (BPI).
The Lost Abbey is downsizing its operations and looking to sell its 30-barrel brewing system and fermentation tanks. But Tomme Arthur’s Belgian-style ale maker isn’t going anywhere.
San Francisco’s Seven Stills has closed. CEO Tim Obert said thousands of small businesses are “hanging on by a thread.”
Another week, another speed bump (or pothole) for the proposed Kroger-Albertsons supermarket mega merger.
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