While craft beverage industry insiders expect more deals ahead nationally in 2020, the market in Michigan may be poised to level off.
After a deposition leaked in the racial discrimination lawsuit filed against Grand Rapids-based Founders Brewing Co., the brewery again made national headlines when Graci Harkema, its diversity and inclusion director, publicly resigned after less than a year in the position. Founders went on to settle the lawsuit, although the case has remained a topic of conversation in the craft beer industry. Meanwhile, Harkema has started her own business, Graci LLC, to focus on sharing diversity and inclusion best practices within the adult beverage industry.
A popular Grand Rapids brewery learned the hard way that focusing on winning a lawsuit can cost a company in other tangible ways if it loses first in the court of public opinion.
Traditional, outdoor agriculture is profoundly dependent on climate, but high-tech indoor farms that grow premium, hyper-local produce for consumers year round may be commercially viable in the future.
Here is the growth report for September 14, 2019.
GRAND RAPIDS — A deepening partnership with a Spain-based minority shareholder provided Founders Brewing Co. Executive Chairman John Green the perfect timing to jump back into an early-stage growth company.
GRAND RAPIDS — Founders Brewing Co. is selling a majority stake in the business to the brewery’s Spain-based minority shareholder, MiBiz has learned.
As more generations become exposed over time to the craft beer industry, brewers will face new opportunities to find growth and challenges to their existing business models. Add in a healthy dose of regulatory uncertainty and shifting market dynamics that could easily catch breweries off guard financially if they scaled up too large, too soon and it’s easy to see that the craft brewing industry remains in a state of constant flux.
In the hyper-competitive craft beer industry in which growth has started to level off in recent years, Old Nation Brewing Co. proves the exception to the rule. The Williamston-based brewery has garnered a name for itself with its M-43 brand, a popular New England-style hazy India Pale Ale that carries a suggested retail price of $13.99 per four-pack of 16-ounce cans.
Founders Brewing Co. has partnered with its Spanish investors to acquire a majority stake in a Colorado-based craft brewer.