Paul Verdu, the former leader of Molson Coors’ craft beer division, has been appointed president of Wisconsin Brewing Company, the Verona, Wisconsin-based brewery announced today.
Verdu will take over for Wisconsin Brewing president and CEO Carl Nolen, who will stay with the company “in a leadership role” and will remain a member of the brewery’s board of directors, according to a press release.
The news comes about two weeks after Verdu announced he would be leaving Tenth and Blake (10B), Molson Coors’ Chicago-based craft arm, after more than two years. 10B’s portfolio includes: Atwater Brewery, Jacob Leinenkugel Brewing Co., Hop Valley Brewing Co., Revolver Brewing, AC Golden Brewing Co., Terrapin Beer Co., and the now-defunct Saint Archer Brewing Company.
Verdu was introduced to Wisconsin Brewing through his former SABMiller colleague, Jeff Hembrock, who initially asked Verdu to advise him on whether he should invest in the brewery. Once Verdu visited the brewery, he discovered they were “sitting on this goldmine of a facility,” and chose to join Hembrock in the investment, along with Jim Rowe, a “finance guru,” and existing investor Chris Rebholz, a Wisconsin Brewing board member since its founding in 2013, Verdu told Brewbound.
“The four of us – Chris, Jeff, Jim and I – all said, ‘Well, I’m in if you’re in,’” Verdu said. “So we all jumped in.
“This isn’t some hostile, ‘Get out of here, we’re taking over,’” he continued. “We’re joining forces with the group that’s already in place.”
Rebholz has also increased his stake in the company, and will serve as board chairman. Other new strategic investors in the brewery include Derek Deubel, CEO of ProBrew/TechniBlend; Rob Medved, CEO of Cannella Media Group; and Mark and Karen Stralow, members of “a family farm group from Morrison, Illinois,” according to the release.
Verdu’s first day will be May 2. He will remain in his existing home in Wisconsin, now with a much shorter commute compared to the four-hour drive to Molson Coors’ Chicago office.
Wisconsin Brewing has numerous growth opportunities, which have the ability to “double, triple” or even “quadruple” the brewery’s existing “small base,” Verdu said. The brewery produced 5,890 barrels in 2020, the last year recorded by the Brewers Association (BA), which was distributed just in the state of Wisconsin. The facility draws an average of 100,000 visitors a year, according to Verdu.
If used full-time, the company’s brewhouse is capable of producing 200,000 barrels annually, and, with “some minor modifications,” could produce 300,000 barrels, Verdu said. The company brewed its first hard seltzer six months ago, has the ability to produce hard kombucha, and is “very close” to being able to produce spirits-based, ready-to-drink canned cocktails (RTDs).
Wisconsin Brewing’s excess capacity, innovation capabilities, and its existing equipment – including a high-speed canning line – provide ample opportunity to expand its contract brewing operations, which Verdu said was one of the most exciting aspects of his next chapter.
“Even at my last year at Molson Coors, the number of conversations that suppliers big and small are having about where they can go contract brew stuff is through the roof,” Verdu said. “The pace of innovation, the explosion of alternates to beer, all these things are adding up to people needing an outlet to go get stuff done in smaller numbers or to trial things or to test market things. And we’ll be there for them, ready to roll.”
Rebholz also has investment stakes in two aluminum can plants, which Verdu said is a “game changer,” giving needed can access to Wisconsin Brewing and any of the breweries it produces for, in a time of continued supply chain constraints.
Wisconsin Brewing provides third-party brewing already for some breweries, but Verdu said he is planning to heavily expand the business. He also hopes to strengthen the brewery’s wholesaler relationships within its home state.
Additionally, Wisconsin Brewing will open a second facility later this year, as part of Wisconsin Brewing Co. Park – the baseball stadium for the Lake Country DockHounds, a new minor league baseball team, opening May 20. The 4,500-seat stadium in Oconomowoc, Wisconsin – close to both Madison and Milwaukee – will include a five-barrel brewhouse.
“To have the naming rights of the stadium and to have a small brewery in there for innovation is really cool,” Verdu said. “Those are all factors into why we all jumped in.
“I’m fully aware that craft is taking some knocks lately,” he continued. “But a well-run and well-positioned and well-marketed and branded craft brewery still has lots of opportunity even in a crowded space.”