Following weeks of uncertainty about the future of Green Flash Brewing, the San Diego-based craft beer company today announced that it has finalized a sale to a new investor group. In a note sent to Green Flash Brewing shareholders, posted by various outlets, founder and CEO Mike Hinkley said the brewery’s primary lender, Comerica Bank, had “foreclosed on its loans” and sold the company’s assets to WC IPA LLC via a foreclosure sale.
After raising more than $6 million from investors over the last five years, Sonoma Cider has ceased operations at its production facility and taproom in Northern California, the Santa Rosa Press Democrat reported. In a statement issued to the Press Democrat, Sonoma Cider co-founder and CEO David Cordtz said the Healdsburg-based maker of hard cider products “suddenly and without warning” lost its investor funding and closed as of March 28.
The maker of Samuel Adams is wading deeper into the taproom business. The Boston Beer Company — which makes and markets a variety of beer, cider and FMB products — today announced plans to open a 9,000 sq. ft. taproom just steps away from its current Cincinnati production facility.
Anheuser-Busch InBev today announced a voluntary recall in the U.S. and Canada of a “limited” number of Stella Artois bottles that may contain glass particles due to a packaging defect.
Another chapter in the story of Green Flash Brewing’s distressed financial situation was written today as the San Diego-based company announced plans to close its Cellar 3 barrel-aging facility and taproom in Poway, California.
Dogfish Head is set to introduce a functional new variety pack, co-developed with packaging supplier WestRock, that will instantly transform into a leak-proof cooler with just a few scoops of ice. Called the “Off-Center Your Summer Pack,” the new SKU, which will retail for as much as $22 in some markets, will feature four varieties of beer – 60 Minute IPA, SeaQuench Ale, Lupu-Luau IPA and Namaste White – and include a custom Dogfish Head koozie.
Over the last two years, brewery-owned taprooms and satellite retail outposts have emerged as both lucrative profit centers for emerging craft beer makers and an opportunities to deliver unique experiences to thirsty consumers. But as the number of taprooms has grown, so too have concerns about their impact on the three-tier system.
Constellation Brands reported its fiscal-year 2018 earnings on Thursday, which were highlighted by a 3 percent increase in total net sales, to more than $7.6 billion. Net sales of Constellation Brands’ beer brands — including Mexican import labels Corona, Modelo and Pacifico as well as craft breweries Ballast Point and Funky Buddha — increased 10.1 percent, to about $4.7 billion.
A pair of beer brands have inked sponsorship agreements with Major League Soccer’s LA Galaxy. Craft Brew Alliance today announced a “multi-year partnership” with the Galaxy for its Kona brand to become the club’s official craft beer. Specific financial terms of the sponsorship were not disclosed.
Nearly three months after departing MillerCoors, Keith Villa, who invented the company’s Blue Moon craft brand, has announced his second act. Villa has launched a new company, called Ceria Beverages, that will focus on producing a line of non-alcoholic cannabis-infused craft beers.
In this edition of Press Clips: BrewDog revenues increase 55 percent in 2017; a federal judge rules against brewery to-go sales in Texas; two A-B High End craft breweries release Yankees and Nationals branded beers; and much more.
A record number of breweries opened their doors last year, according to a new report from industry trade group the Brewers Association (BA). The BA, which represents the interests of small and independent American brewers, estimates that 997 breweries opened in 2017, bringing the total number of U.S. breweries to 6,372. At the same time, however, the number of breweries that closed in last year increased by 70 percent, to 165.
Brewbound’s Startup Brewery Challenge has a new name. Up-and-coming brands from across the brewing industry will take the Brewbound Live stage on November 27th and 28th in Santa Monica, California, to compete in the reimagined Pitch Slam competition, sponsored by Craft Brew Alliance. Here’s what’s new.
In the latest Legislative Update: A Louisiana Senator wants younger adults to drink; Massachusetts says no to CBD beer; and more from South Dakota and Kansas.
