Chris Furnari

Posts by Chris Furnari

With Launch of Crowdfunding Campaign, Black Star Line Ferments a Business with a Social Mission

With Launch of Crowdfunding Campaign, Black Star Line Ferments a Business with a Social Mission

At the Startup Brewery Challenge in June, L.A. McCrae, the founder of North Carolina’s Black Star Line Brewing, took the stage to deliver a passionate, three-minute pitch about a brewery, for certain, but also something more. “Black Star Line Brewing Company is a grassroots, family-centered brewery launching a social movement,” McCrae said at the time.

Keith Greggor Explains Why He Sold Anchor Brewing Company

Keith Greggor Explains Why He Sold Anchor Brewing Company

Japan’s Sapporo Holdings Ltd. announced last Thursday that it would acquire craft brewing pioneer Anchor Brewing Company for a provisional $85 million sum. In his first interview since the deal was announced, Keith Greggor, the owner and CEO of Anchor Brewers & Distillers, the brewery’s parent company, spoke to Brewbound about the circumstances that led to the sale, the current state of craft M&A and his plans for Anchor Distilling.

Cold Spring Brewing Company Sold to Private Equity Firm

Cold Spring Brewing Company Sold to Private Equity Firm

Minnesota-based Cold Spring Brewing Company has been acquired by Brynwood Partners, a Connecticut-based private equity firm with existing investments in a variety of food and beverage companies. A purchase price was not disclosed and the transaction – which includes Cold Spring’s Third Street Brewhouse and Monarch Custom Beverages divisions — was finalized on August 3, Brynwood managing director Dario Margve told Brewbound.

Drizly to Share Free E-Commerce Insights with Launch of New ‘Data Distillery’

Drizly to Share Free E-Commerce Insights with Launch of New ‘Data Distillery’

In an effort to democratize the alcohol industry’s data, Drizly — a technology company and mobile e-commerce platform – has launched what it calls its “data distillery.” Unveiled last week, the new data hub offers both consumers and alcohol industry professionals free insights, compiled from millions of orders in the 70 U.S. cities and 25 states where Drizly operates.

Craft Brew Alliance Reports Q2 Earnings

Craft Brew Alliance Reports Q2 Earnings

Craft Brew Alliance (CBA) today reported second quarter earnings results, which were highlighted by a 9 percent increase in Kona depletions. But Kona’s continued depletion growth – which CBA executives have repeatedly touted as a mainstream, crossover brand that sources volumes from the craft and import segments – couldn’t completely offset ongoing declines of Widmer Brothers and Redho

Karl Strauss to Distribute for Other Craft Brands

Karl Strauss to Distribute for Other Craft Brands

Add Karl Strauss Brewing Company to a small but growing list of craft breweries expanding beyond self-distribution and into broader beer wholesaling. In an effort to help smaller craft players gain better access to thousands of bars and restaurants, Karl Strauss is boosting its portfolio to include a “select group” of local beer products, according to Mark Weslar, the company’s vice president of marketing. Black Plague Brewing Company and Benchmark Brewing Company are the first two companies to sign with Karl Straus

Brewers Association: Craft Growth Slows to 5 Percent

Brewers Association: Craft Growth Slows to 5 Percent

Growth for U.S. craft beer companies is the slowest it’s been in 13 years, according to a new report from the Brewers Association (BA), a trade group representing small and independent brewers. The BA today reported that production at small and independent craft breweries – those companies that are less than 25 percent owned by a non-craft brewer and produce fewer than 6 million barrels of “traditional” beer annually – was up just five percent midway through 2017.

Ballast Point to Open Chicago Brewpub in 2018

Ballast Point to Open Chicago Brewpub in 2018

An already competitive craft beer scene in Chicago is about to get even more crowded. Constellation Brands – a beer, wine and spirits producer that makes popular import beer labels such as Corona, Pacifico and Modelo — yesterday announced plans to open a Ballast Point outpost in Chicago early next year.

Boston Beer Company Reports Improved Revenue, Depletions Trends

Boston Beer Company Reports Improved Revenue, Depletions Trends

After revenue and depletions declined 14 percent during the first quarter of 2017, Boston Beer Company rebounded in Q2, today reporting revenue growth of 1 percent and depletion decreases of just 3 percent versus the same period a year ago. In a press release, the company – which makes Samuel Adams beer, Angry Orchard Hard Cider, Twisted Tea, Truly Spiked & Sparkling seltzers and other offerings — said it sold nearly 1.1 million barrels of product during the 13-week period ending July 1, 2017. The company sold about the same amount of liquid during the second quarter of 2016.

Short’s Brewing Sells Minority Stake to Lagunitas

Short’s Brewing Sells Minority Stake to Lagunitas

Michigan-based Short’s Brewing said today it would sell a 20 percent equity stake to Lagunitas U.S. Holdings (LUSH), a wholly owned subsidiary of Heineken International. A sale price was not disclosed, but brewery partner Scott Newman-Bale, who spoke to Brewbound following the announcement, said the multiple exceeded 15X EBITDA (earnings before interest, taxes, debt and amortization).

To Promote ‘A Better Deal,’ Dems Criticize MegaBrew

To Promote ‘A Better Deal,’ Dems Criticize MegaBrew

Could craft beer play a role in the next congressional election? As part of its effort to win back control of Congress, the Democratic Party plans to “crack down on corporate monopolies” as part of a new populist economic agenda, unveiled Monday. The platform – called “A Better Deal” – is partly aimed at preventing mega-mergers that would “harm consumer, workers and competition.”

Watch: Episode 004 of Learning Curve Featuring Border X Brewing

Watch: Episode 004 of Learning Curve Featuring Border X Brewing

Shot on location in San Diego and Portland, Ore., the latest episode of Learning Curve follows the founders of Border X Brewing as they learn from multiple Craft Brew Alliance executives and brew a collaboration beer in the recently built Widmer Brothers Innovation Brewery.