Articles Tagged with 'Openings & Closings'

Former Anheuser-Busch Exec Felipe Szpigel Launches High End Canned Cocktail Company Five Drinks Co.

Former Anheuser-Busch Exec Felipe Szpigel Launches High End Canned Cocktail Company Five Drinks Co.

“Less isn’t more. It’s right.” That’s the motto of Five Drinks Co., the new high-end, ready-to-drink canned cocktail venture co-founded by former Anheuser-Busch InBev executive Felipe Szpigel. The tagline is apt given that Five Drinks’ offerings are made with five ingredients — or less — and packaged in 6.8 oz. cans (the average size of a cocktail pour), compared to competing brands in 12 oz. cans.

Celis Brewery Files for Bankruptcy, Foreclosure Auction Canceled

Celis Brewery Files for Bankruptcy, Foreclosure Auction Canceled

Financially troubled Austin craft beer maker Celis Brewery has staved off an impending closure, for now. The company’s assets and property were set to be sold at auction on Tuesday, but a Chapter 11 bankruptcy filing submitted yesterday has protected Celis from losing its real estate and its brewing equipment.

Last Call: Tax Cuts for Brewers Passes House Committee; May US Beer Shipments Decline

Last Call: Tax Cuts for Brewers Passes House Committee; May US Beer Shipments Decline

In this week’s Last Call: The House Ways and Means Committee passed a one-year extension of the federal excise tax relief for alcohol producers and importers. Also, U.S. beer shipments declined in May, Deschutes begins selling canned drinking water, Bell’s Two Hearted tops the AHA’s best list, and more news briefs.

Last Call: Receiver Reaches Agreement to Sell DME Group’s Main Business

Last Call: Receiver Reaches Agreement to Sell DME Group’s Main Business

In this week’s edition of Last Call: Alvarez & Marsal reaches an agreement to sell DME Group’s main business; lawmakers threaten to limit dates for Boston beer gardens; and the U.S. House introduces the Craft Beverage Modernization and Tax Reform Act.

DME: Buyer in Negotiations for Canadian Equipment Manufacturer

DME: Buyer in Negotiations for Canadian Equipment Manufacturer

A potential buyer for troubled Canadian brewing equipment manufacturer Diversified Metal Engineering (DME) appears to have emerged. In a January 18 report, Alvarez & Marsal, the receiver appointed in November after DME defaulted on loan payments to the Royal Bank of Canada (RBC), said it is negotiating with a potential buyer for the company’s primary business in Charlottetown, Prince Edward Island.

Hampered by Equipment Delays, Big Bend Brewing Suspends Operations

Hampered by Equipment Delays, Big Bend Brewing Suspends Operations

Nearly a month after Diversified Metal Engineering (DME) entered into receivership, a Texas craft brewery that paid the Canadian brewing equipment manufacturer more than $1 million in deposits is ceasing operations. In a December 21 social media post, Big Bend Brewing Co. announced it would “suspend operations” after six years, and shutter its taproom effective December 31.