Colorado-based New Belgium Brewing has been acquired by Lion Little World Beverages, a subsidiary of Kirin Holdings Company Limited, a Japan-based company.
New Belgium is the largest craft brewery in Colorado, as well as employee-owned. Beer Street Journal is told those employee-owners will receive north of $100,000 dollars each in retirement money through the deal, which will close by the end of 2019 for an undisclosed amount.
In a letter to the employees of New Belgium, which spans both Fort Collins, Colorado and Asheville, North Carolina, founder Kim Jordan wrote “… We will no longer be employee-owned and it would be easy to see that as a drawback… but here’s another way to look at it.. Over the life of our ESOP, the total amount paid to current and former employees will be nearly $190 million dollars.
Magnolia Brewing Company, in which New Belgium owns an ownership stake, is included in the deal. The minority stake that New Belgium doesn’t own will be acquired from Dick Cantwell and Oud Beersel. Cantwell is said to still play a role in the company going forward.
Lion Little World is a global craft beverage company, that is owned by Kirin Holdings Limited. Kirin also owns a 24.5% stake in New York’s Brooklyn Brewery.
Founders Brewing has been embroiled in a very public racial discrimination case. This afternoon, the Grand Rapids, Michigan brewery issued a statement about the case, additionally stating the case has been settled. The terms of the settlement have not been disclosed.
Below are the statements from Founders and Tracy Evans in their entirety.
This is a developing story…
We are pleased to settle this case and focus on the future. Through recent discussions with Tracy, we listened, engaged in self-discovery, and reached common ground to make amends. We agreed that nobody be viewed at fault here. Most importantly, this serves as an opportunity to place our full attention on the work we now have to do, as a company of more than 600 dedicated team members, to rebuild our relationships.
Significantly, we are committed to moving the cause of diversity and inclusion forward for Founders. We want every employee to feel valued, respected and safe. We abhor discriminatory action of any type and believe that beer should bring people together and not divide.
-Mike Stevens and Dave Engbers, Co-Founders
I am not going to say too much here but I want the world to know the power we have when we step forward and make ourselves heard. Upon hearing us, businesses also have the power to make changes or not. I don’t know what happens from here within the doors of Founders Brewing Co. I do know this; we have legal resolution and we have started looking at how ALL of this is affecting human lives. I don’t know what Dave and Mike have planned for the future, but I know that that “seeing color” and valuing people for who they are, and their collection of experiences is the mission. Learning from our mistakes is also part of the mission. Founders as a whole made some bad choices. I, as an individual made some mistakes but on this day we look to move forward. When someone offers to change, as humans we have a few choices and I have made the choice to see what Founders does with the path that they are about to take. To those that were affected by all of this within Founders and had nothing to do with this, I apologize. To the few of those that were affected by this and you are a part of the problem, I hope you listen to what your company is about to start saying. Craft beer is about coming together and celebrating our differences and no dollar amount should make a company want to forget that. A company is nothing without its workers and you deserve to be valued as such and there should be a clear line of what those goals are. As there are still people working for Founders that I still love very dearly, I hope for nothing but the best for Founders in the future. I will also be moving on and continuing this fight around the world as the issues that I experienced at Founders are not just a Founders issue, they happen everywhere and I vow to continue to be a vessel to help both employers and employees become better at acknowledging, understanding and dealing with them.
Love you all, thanks for the support and let’s continue to stand up for what’s right.
Molsen Coors announced a massive company restructuring today, which will essentially end the MillerCoors brand. The U.S. based business will be combined with their Latin America and Canadian entities.
MillerCoors as you’ve come to know it is no more. Somewhere between 400 and 500 salaried jobs will be cut.
Molsen Coors CEO Gavin Hattersley said in an announcement on Wednesday a massive restructuring plan. Molson Coors Brewing Co. will now be known as Molson Coors Beverage Co., as the brewer expands beyond beer into more beverages.
The MillerCoors office in Denver, Colorado, making Chicago the North American headquarters. The rest of the support functions, including finance, information technology, procurement, supply chain, legal and human resources, will be consolidated in Milwaukee.
Light beer decline? In 2018, sales of Miller Lite dropped 1.3% and Coors Light declined 3.9%. Some reports put the blame on the rise of craft brewing, while mainstream media is has started to blame big beer decline on Millenials.
Financial reinvestment. Molson Coors states that the savings from the company restructuring will be funneled into investments behind its brands, expansions into the beyond beer space, and digital capabilities, although the company didn’t state what those are.
Pete Coors will retire as the company’s chief customer relations officer at the end of the year, assuming the role of vice-chairman of the Molson Coors board and company ambassador.
According to MillerCoors “Behind the Beer” company blog, CEO Hattersley closed the announcement by saying “We cannot and will not wait. We will move faster and free up resources. We will invest in our brands and in our capabilities. We will regain the glory of our past, and we will create a brighter future for the Molson Coors Beverage Company.
Scottish whisky legend Macallan has regained the world record for the most expensive bottle of whisky sold at auction. This week, Maccallan 1926 Fine & Rare fetched $1.9 million dollars at Sotheby’s in London.
This is the fifth time a bottle of Macallan 1926 has sold for more than $1 million dollars. This particular whisky is part of the distillery’s Fine & Rare Series, laid down in 1926 and bottled in 1986. This 1926 bottle was a piece of a large whisky asset owned by a single anonymous American collector. The collection features 178 bottles from Macallan’s Fine & Rare series, multiple miniature bottle collections, plus bottles from Glenfiddich and Glenlivet.
According to Sotheby’s, the Macallan 1926 was valued in the neighborhood of a half a million dollars. This is an interesting estimate considering the last bottle to go to auction sold for $1.5 million in London nearly a year ago.
The American collector’s entire lot sold off in pieces totaling more than $10 million dollars- nearly double Sotheby’s sale estimate.
It’s pretty crazy to think what has happened since these casks were laid down in 1926 – World War II, The Cold War, humans went to space, America landed on the moon, the first FIFA World Cup, the transistor was invented, video games were invented, the DNA structure was determined…the list is pretty long.
As of this week, the Macallan 1926 Fine & Rare is the most expensive bottle of whisky ever auctioned. That’s roughly $76,000 dollars an ounce.
Tip not included.
Since 1996, Victory Brewing Company has called Philly-adjacent Downington, Pennsylvania home. Since then, the brewery has expanded to Parkesburg and Kennett Square. Coming in late-2020, Victory will finally have an address in downtown Philadelphia.
A 14,000 square foot state-of-the-art brewery and taproom is being constructed in Center City Philadelphia’s Logan Square area. The location will house a production brewery with a Prospero Brewing System, a scratch kitchen, three separate bars, street-level outdoor seating as well as a rooftop patio.
“We’ve been patiently looking for the perfect downtown Philadelphia location for years. This property, and its iconic address, 1776 Benjamin Franklin Parkway, presents the perfect venue for us to expose both Philly residents and visitors to innovative, quality craft beer while expanding the audience for the entire craft beer industry.” – Victory co-founder Bill Covaleski
Architecture firm Gerner Kronick + Valcarcel has been tapped for the build.
Victory Brewing Company expects the new location on Benjamin Franklin Parkway to be completed by the end of 2020. The cost of the new build was not disclosed.
Below is the Google Maps Street View of the site of Victory’s Philadelphia build. (As of September 2018.)
Boulder Beer Company is pulling back national distribution, and downsizing operations.
For nearly 30 years, Boulder Beer has been brewing beer in their home in Boulder, Colorado. Citing an “explosive number of brewery openings” and “crowded shelves,” Boulder will focus solely on providing their brewpub at Wilderness Place with beer.
Brewery owner Gina Day made a statement about the move on Boulder’s Facebook page:
Times have changed and change is hard, but I’m ready to put the ‘fun’ back in beer. Our friends will still be able to enjoy our beers in the brewpub, and by brewing in small batches, have a wider variety of options on the ever-rotating specialty taps. We’re celebrating our milestone 40th Anniversary this year and look forward to furthering our legacy in Boulder and the industry.
The brewery further states the brewery fans will be able to try Boulder’s beers in small batches at the brewpub that is open seven days a week, with even more styles and creations in the future.
Boulder Beer currently produces 16,000 barrels (496,000 gallons) of beer annually and distributes to 34 states. Unfortunately, up to 21 employees will be eliminated as a result of the downsize.
The brewery declined to further comment.
Arrogant Bastard Jägermeister Ale is headed out to select markets now, a Germany brewed special release for the U.S.
A staple in nearly every bar in America – Jägermeister. The herbal liquor is made with 56 different herbs and takes more than a year to produce. Jäger’s headquarters is in Wolfenbuttel, Germany, nearby Stone’s Berlin brewery that they sold this year. The last collaboration from Stone Berlin is debuting this month- Arrogant Bastard Jagermeister Ale.
The base beer is Arrogant Bastard Ale, an American strong ale that is the flagship beer of Stone’s Arrogant Consortia, the cocky brewing subset of Stone Brewing. According to Lizzie Younkin, public relations manager for the brewery, the beer was brewed after the sale by Stone’s brewers that were hired by Brewdog as they took over the Bern facility. A few senior brewers from Stone’s Escondido brewery also traveled to Berlin to oversee the final pieces of this collaboration.
Jagermeister Arrogant Bastard Ale is brewed with similar spices as the digestif counterpart according to Stone. While the brewery hasn’t disclosed which spices, some of the most notable in Jager are anise, poppy seeds, citrus peels, juniper berries, licorice, and ginseng.
Neither beverage has now, or ever contained deer blood. Sorry internet theorists.
Jagermeister Arrogant Bastard Ale is headed to select markets across the U.S. in October, including California, Colorado, D.C., Iowa, Kentucky, Maryland, Michigan, Minnesota, Mississippi, Nevada, Oregon, South Carolina, South Dakota, Tennesee, and Washington.
Style: American Strong Ale (w/ Various spices.)
Availability: 750ml Bottles, Corked & Caged. Limited Release.
Debut: October 2019