Brooklyn Brewery and Danish brewer Carlsberg have announced yet another international craft brewing partnership — this time in Eastern Europe. The two companies have formed a joint venture with Švyturys Brewery, based in the port city of Klaipėda, Lithuania.
New Glarus Brewing Co. is adding 16 fermentation tanks that will eventually allow the Wisconsin brewery to double its annual capacity to more than 400,000 barrels.
MillerCoors today announced that chief public affairs and communications officer Pete Marino will be taking over as the president of Tenth and Blake, the company’s craft and import division, on September 1. Scott Whitley, who had led the division since October 2014, will retire on September 30, according to CEO Gavin Hattersley.
Michigan’s Bell’s Brewery last week said it would spend $7 million on capital improvement projects at its brewing facilities, located in Comstock and Kalamazoo.
Scottish craft beer maker BrewDog has tapped an industry outsider to lead the company’s U.S. operations. BrewDog last week announced the hiring of Tanisha Robinson as managing director.
Once a nomadic “gypsy brewer” without a place to call its own, Denmark-based Mikkeller will soon be brewing out of two U.S. locations after announcing plans to open a brewery and restaurant inside Citi Field, the home of the New York Mets. The 10,000 sq. ft. location, which is slated to open this fall, will include a 20-barrel brewhouse, numerous fermenters and a canning line, according to a press release.
Modern Times Beer Co. today announced the implementation of an employee stock option plan (ESOP), giving workers a minority ownership stake in the company. In order to form the ESOP, Modern Times repurchased 30 percent of its total equity from 11 silent investors via a bank loan from Comerica and cash from the company.
Last month, nearly 200 beer industry professionals converged on New York City for the Brewbound Session business conference and videos from the event are now available for viewing. Held on June 15 at the at the Metropolitan West, the summer 2017 edition of our bi-annul business conference featured a variety of thought-provoking conversations with craft brewery founders, interactive panel discussions with retailers and distributors, and engaging presentations from the likes of Nielsen, First Beverage Group and Harpoon Brewery.
In this week’s Legislative Update: Delaware increases the state tax on alcohol; North Carolina approves the so-called ‘Brunch Bill’; 48 breweries oppose Clean Water Rule changes; and more.
In an effort to broaden its innovation pipeline and grow its direct-to-consumer business, Maryland’s Heavy Seas beer will invest upwards of $2 million to expand its brewery and taproom. In an interview with Brewbound, brewery founder and managing partner Hugh Sisson said the project, which will be financed through a combination of cash flow and bank debt, would include the installation of a new 15-barrel pilot brewing system (for research and development) and a more robust canning line.
Less than a week after announcing a joint brewing venture in Hong Kong, Brooklyn Brewery and Carlsberg this week announced the acquisition of United Kingdom-based London Fields Brewery.
In our latest edition of Brewbound Voices, Beer Business Finance founder Kary Shumway returns to discuss self distribution. Shumway has worked in the beer industry for over 20 years as a Certified Public Accountant and currently serves as the Chief Financial Officer for Clarke Distributors, Inc. in Keene, New Hampshire. In part II of his column for Voices, Shumway dives deep into the process of self distributing, discussing account and route building, proper cash flow management practices, the “hidden” costs of operating in a self distribution model and succession planning.
In our latest edition of Brewbound Voices, Beer Business Finance founder Kary Shumway returns to discuss self distribution. Shumway has worked in the beer industry for over 20 years as a Certified Public Accountant and currently serves as the Chief Financial Officer for Clarke Distributors, Inc. in Keene, New Hampshire. In part I of a two-part column for Voices, Shumway begins deconstructing the ins and outs of self distribution. He discusses the advantages and disadvantages of self distribution while profiling one brewery he believes is doing it well.
After six consecutive years of double-digit growth (2010-2015) within the craft beer segment, and a three-year period of intense merger-and-acquisition activity (2014-2016), brewery multiples are beginning to normalize, according to First Beverage Group managing partner Townsend Ziebold.
