Constellation Brands (STZ) is shrugging off the stigma surrounding marijuana and further diversifying its buzz. The New York-based company, which makes and markets a variety of beer, wine and spirits products, today confirmed plans to become the first major alcohol manufacturer to formally expand into the marijuana business via the purchase of a 9.9 percent stake in Canada’s Canopy Growth Corporation (WEED).
Earlier this year, Ninkasi Brewing co-founder Nikos Ridge stepped back from his role as CEO, naming then-COO Cheryl Collins as his replacement. The pair will speak at the upcoming Brewbound Session, which takes place on Wednesday, November 29, at the Lowes Hotel in Santa Monica, California. Together, Ridge and Collins will share lessons learned from growing into one of the largest U.S. craft breweries in just 10 years.
After two years of dabbling in the “hazy IPA” space with its Rebel Raw offering, Boston Beer Company is finally making a nationwide bet on a growing trend that started in its own backyard.
In this week’s edition of Last Call, Russian River raises $200,000 for wildfire relief; Amazon announces the end of its wine program; Diageo opens a temporary Guinness taproom in Maryland; and more.
Anheuser-Busch InBev today reported its third-quarter earnings, highlighting global revenue growth of 3.6 percent for the three-month period ending September 30. Despite the increased earnings, A-B InBev’s worldwide beer volumes fell by 1.5 percent while U.S. shipments to wholesalers dropped a whopping 6.4 percent during the quarter.
Net revenues for Boston Beer — which makes Samuel Adams beer, Angry Orchard Hard Cider, Twisted Tea, and Truly Spiked & Sparkling seltzers, among other products — declined to $247 million, which the company attributed to a 4 percent decline in shipments during the quarter ending September 30.
For the third consecutive year, the economic impact of the Oregon Brewers Festival (OBF) has declined, leading festival organizers to say that changes are coming in 2018. The 2017 edition of the five-day Portland, Oregon beer festival, one of the oldest and most well-attended in the U.S., generated an estimated $23.9 million in economic impact, an 18 percent decline from the previous year.
The North Carolina Craft Brewers Guild has hired Andrew Lemley as the organization’s new executive director. Lemley comes to the Guild from New Belgium Brewing Company, where he most recently served for the last four years as the Fort Collins-headquartered brewery’s government affairs representative.
In the two years since Stone Brewing founder Greg Koch announced he would step down as CEO, a number of key executives have departed the organization. The latest? Stone Brewing’s chief operating officer, Pat Tiernan, who left last week, Brewbound has learned. Reached via email, a spokeswoman with the San Diego-based craft brewery confirmed Tiernan’s exit, but did not offer any explanation for his departure, saying only that he “resigned.”
Citing “regulatory and legislative issues” in its home state of Maryland, Flying Dog has halted plans to build a $54 million destination brewery, despite investing more than $2.5 million to purchase land late last year.
In this week’s edition of Last Call: Denver brewery De Steeg is sold; Wit’s End announces plans to share Strange Craft Beer space; Anchor, Goose Island, Yards announce tasting room openings; and more.
In my opinion, these five beers have the potential to bring new drinkers into the category, something that is so desperately needed now that brewing companies have collectively lost 11 billion servings of beer to wine and spirits over the last 20 years.
North Carolina-based Thirsty Monk Brewery & Pub announced plans Thursday to open satellite breweries and taprooms in two prominent craft beer markets: Denver, Colorado, and Portland, Oregon.
A majority of U.S. senate members now support legislation that would reduce excise taxes on all brewers and importers. According to a press release jointly produced by six beverage lobbying groups, including the Beer Institute and the Brewers Association, 51 senators have co-sponsored Senate Bill 236, known as the Craft Beverage Modernization and Tax Reform Act (CBMTRA).