Sonoma County-based Golden State Cider founders Jolie Devoto and Hunter Wade have sold the 10-year-old business to Christopher and Ariel Jackson, according to The Press Democrat.
The Jacksons’ portfolio of beverage-alcohol businesses expands, as Christopher is the founder and president of Seismic Brewing Company in Santa Rosa, California, and the proprietor of generational wine business, Jackson Family Wines.
Seismic announced the deal on its social media pages on May 12.
“Cheers to high quality, high standards and fantastic partnerships,” the company wrote. “We’re beyond excited about our new adventure with some pretty rad teammates @drinkgoldenstate and cannot wait to share more in the future!”
Following the transaction, Healdsburg-based Golden State and Seismic will fall under the parent company Sonoma Craft, the Press Democrat reported. Those two businesses will employ about 80 workers, with Golden State CEO Chris Lacey overseeing both businesses and becoming an equity partner in the business.
Lacey told the Press Democrat that Golden State Cider sold about 500,000 cases in 2021.
“Chris Jackson and I have been friends for a few years and this deal came about in an organic fashion,” Lacey said in a statement shared with Brewbound. “There’s a significant amount of of blue sky ahead of us and I’m excited to lead this journey.”
Off-premise sales of the cider segment on a national basis have been dominated by Boston Beer Company’s Angry Orchard brand, which holds nearly half the market (49%).
Year-to-date through April 17, hard cider dollar sales have declined -5.9%, to nearly $127.9 million (-$7.96 million), while case sales have declined -10.1%, according to market research firm IRI. Cider’s dollar share of the beer category dipped 0.03%, to 1.05%, the firm reported.
The top-selling cider brand in the off-premise — Angry Orchard Crisp Apple — has accounted for more than half of the sales declines at nearly -$4.6 million. It declined in both dollars (-10.5%) and volume (-13.5%) through mid-April, according to IRI.
In recent years, regional brands have gained share of the market and become attractive acquisition targets.
In March, Michigan-based Blake’s Hard Cider acquired the assets of Bend, Oregon-based Avid Cider Co.
A year earlier, privately owned holding company Northeast Drinks Group LLC acquired Woodchuck maker Vermont Hard Cider Company.
In November 2021, Vintage Wine Estates acquired Ace Cider in Sebastopol, California.
In November 2019, Artisanal Brewing Ventures, the parent company of craft breweries Victory, Southern Tier and Sixpoint, acquired Bold Rock Hard Cider in Nellysford, Virginia.