The self-proclaimed “punks” behind Scottish craft beer maker BrewDog have sold a 22 percent stake to TSG Consumer Partners, a San Francisco-based private equity firm with existing investments in Pabst and Sweetwater Brewing. The roughly $265 million deal, which values the company at more than $1.2 billion, according to BrewDog founder James Watt, will include $124 million of reinvestment into continued expansions in the U.S. and abroad.
Even as growth in the craft category slows, a number of craft outfits are continuing to pour money into costly expansion projects. Just this week, a trio of regional breweries announced plans to expand with facility upgrades and new taproom locations.
In this week’s edition of Last Call: Texas lawmakers move to curtail TABC travel on taxpayers’ dime; the Chicago White Sox cut deals with Goose Island, Bell’s, Pabst and Founders; and a Nevada lawmaker aims to limit number of brewpubs and beer being sold to consumers.
Beer continues to be the big growth driver for Constellation Brands. On Thursday, the wine, spirits and beer maker reported its annual earnings, which were boosted by $4.2 billion in net beer revenues for the fiscal year ending February 28, a 17 percent increase over the prior year.
The 2017 Craft Brewers Conference is just around the corner and, to help you navigate what is sure to be a jam-packed week of learning, networking and imbibing, Brewbound has compiled a list can’t miss list presentations and educational seminars. Approximately 14,000 brewing industry professionals are expected to attend the 34th edition of the CBC, which takes place in Washington D.C. between April 10 – 13.
In an effort to keep beer in the marketplace while a court-appointed receiver solicits bids for the Speakeasy Ales & Lagers brand and brewing assets, the San Francisco craft brewery has signed an exclusive contract brewing agreement with New York’s Shmaltz Brewing, Brewbound has learned.
More signs of a slowdown are showing as Bridgeport lays off 13 brewing staff workers, Branchline files for bankruptcy protection and Tin Man looks for a buyer.
Following in the footsteps of other large, established U.S. craft beer companies who have introduced flagship line extensions in recent years, New Belgium Brewing today announced plans to release a Belgian White version of its popular Fat Tire brand. Slated for a nationwide rollout beginning August 1, New Belgium’s new unfiltered wheat offering will compete for market share against other well-known wheat beers — including MillerCoors’ Blue Moon Belgian White, Anheuser-Busch InBev’s Shock Top Belgian White and Allagash Brewing’s White Ale — in the second-largest craft category by style.
We’re just one week away from next week’s Brew Talks meetup, taking place on Tuesday, April 11 at Penn Social in Washington D.C., and Brewbound is pleased to finally reveal the speaker lineup and official agenda for the event. The industry-only event, hosted in partnership with Dogfish Head Craft Brewery and occurring alongside the 34th edition of the Craft Brewers Conference, will offer brewers, distributors and retailers a chance to participate in three hours of top-level business discussion and networking.
International demand for American craft beer is at an all-time high but, much like the trends domestically, growth is slowing.
In this week’s distribution roundup: Cigar City expands distribution to New Jersey; New Holland and Pabst kick off their nationwide distribution agreement; Harpoon’s UFO Beer lands in Minnesota and Catawba Brewing enters Georgia.
Four months after suspending its operations, Chicago’s Finch Beer Co. plans to begin producing and delivering product once again this month.
Since opening Castle Island Brewing on the outskirts of Boston in December 2015, founder Adam Romanow believes he’s missed out on as much as $50,000 per month in direct-to-consumer sales as a result of not having a taproom. That will change in June, when the Norwood, Massachusetts-based craft brewery opens a 1,500 sq. ft. taproom with capacity for 100 drinkers and 16 rotating draft lines.
In this week’s edition of Last Call: Maryland Brewers and Diageo join forces to amend HB 1283; North Carolina moves toward modernizing the state’s alcohol laws; more breweries close; Yards Brewing Co. reveals plans for its new brewery; A-B divests itself of the former SABMiller’s Central and Eastern European assets; and more.
