Asheville, NC – Riverbend Malt House today unveiled its strategic expansion plans to meet surging craft malt demand from craft brewers and distillers.
These plans include a recently signed long term lease on a 74,000 square foot facility in Asheville and the placement of orders for capital equipment which will lead to a 500% increase in production capacity by January 2018. The company recently closed a successful capital raise of $4.7 million in equity and debt to fund the expansion.
“High quality craft malt has become a recognized product differentiator in craft beers and whiskeys,” said Scott Hickman, Riverbend’s CEO. “Currently most malt used in craft brewing comes from grain which has been grown and malted thousands of miles away – perhaps even in a different country or on a different continent – and many of our customers prefer more local sources for their critical ingredients.”
“With our expansion we’ll not only be producing more malt, but greatly broadening our product line to include new varietals, 2-row barleys, and specialty malts which will enable our customers to brew with a broader range of styles,” commented Brent Manning, Riverbend Founder/Head Maltster.
Riverbend’s new facility will be located at 12C Gerber Road in Asheville, NC. Production capacity will increase to 3 million pounds of malt per year, with the incremental production coming on line in late 2017 and early 2018.
“With our expansion we’ll be buying more grain from regional farmers and creating new manufacturing jobs in Asheville at above living wage levels, with healthcare benefits,” noted Hickman. “Our motto is ‘Malt with a Mission” and a key part of that mission is to help local farmers and workers participate in the amazing growth of craft beer and distilling.”
About Riverbend Malt House
Riverbend Malt House, founded in 2010 and headquartered in Asheville, NC, is one of the original craft malting facilities in the US. Utilizing grain sourced from local farmers, Riverbend malt fuels high quality, unique beverages produced by over 120 of North America’s finest craft breweries and distilleries. www.riverbendmalt.com