How much is a distressed craft brewery worth in 2018? Somewhere north of $8.25 million, if the scene at New Hampshire’s Smuttynose Brewing earlier today is any indication. An auction run by James R. St. Jean Auctioneers for Smuttynose ended with the company’s banker, Provident Bank, reclaiming the brewery for $8.25 million on Friday afternoon. Immediately after the auction concluded, Norman Rice, a local tech entrepreneur, approached the bank about purchasing the Portsmouth-based company.
Oregon’s Ninkasi Brewing has announced the hiring of former Bell’s Brewery director of sales, Marty Compton. Compton, who officially joined the Eugene-based Ninkasi as its new national sales director earlier this week, departed Bell’s Brewery last August.
In this week’s Last Call: President Trump imposes tariffs on steel and aluminum; Heineken attempts to acquire a majority stake in United Breweries; Three Floyds’ expansion plans are approved; and more.
Craft Brew Alliance (CBA) CEO Andy Thomas repurposed an old presidential metaphor during Thursday’s 2017 financial results call with investors and analysts to illustrate the publicly traded company’s health.
Craft Brew Alliance (CBA) officially announced its 2017 earnings today, which fell in line with preliminary financial results shared on February 1. Those results were again highlighted by net sales increasing 2 percent to more than $207.5 million and 10 percent depletion growth for the Hawaiian-themed Kona brand.
After pulling distribution from two states last year, Santa Fe Brewing Company is re-focusing its efforts on growing sales in its home state of New Mexico and seven other core markets. Santa Fe director of sales and marketing Jarrett Babincsak told Brewbound that the company decided to dig deeper in its eight-state footprint due to the increasingly more difficult challenge of selling beer away from a home territory.
After two consecutive years of single-digit sales declines, Sierra Nevada Brewing is refocusing its efforts on selling its flagship Pale Ale while also telling its story to consumers.
First Beverage Group, one of the top dealmaking firms in the beverage industry, today announced that it has spun off its investment banking division and merged the unit with Seattle-based Cascadia Capital’s consumer and retail team. Specific financial terms of the transaction, which closed on March 5, were not disclosed.
In the latest Legislative Update: Sunday sales are now legal in Indiana; South Dakota is on the verge of increasing its barrel cap; tensions run high in Maryland; and more state news.
The co-founder and chairman of Stone Brewing Company issued a public apology today after an employee with access to the company’s “Arrogant Bastard” Twitter account sent an “inappropriate” tweet on Wednesday. The since-deleted message, sent on the eve of Women’s History Month, contained sexual innuendos that some Twitter users described as “tone deaf” and said promoted rape culture.
In a move that would have wide-ranging effects on the beer industry, President Donald Trump yesterday announced plans to implement a 10 percent tariff on imported aluminum. The move comes weeks after the Commerce Department recommended tariffs on aluminum and steel as a national security precaution, citing the nation’s inability to build military weapons without foreign steel and aluminum.
Less than a month after Dogfish Head switched distributors in Illinois, the Delaware-based craft brewery has altered its route to market in Massachusetts. Previously distributed by Atlantic Beverage Distributors, the Dogfish Head brands will now be sold throughout Massachusetts by five MillerCoors wholesalers
Sales of craft beer grew 6 percent in the U.S. last year, industry consultant Bump Williams shared during Thursday afternoon’s Brewers Association Power Hour. And that growth, Williams said, is not coming from mainstream craft brands, but new local brewers as well as strong regional and national players like Bell’s Brewery, Stone Brewing, Dogfish Head Craft Brewery, and Allagash, among others.
