While we were napping, multiple outlets have reported that Legacy Breweries — an upstart venture with aspirations on owning several small, mid-sized craft breweries around the country — has acquired two more breweries to put under its wing: Aspen Brewing Co. in Colorado and Laurelwood Brewing in Portland.
News coverage of Legacy Breweries’ purchases are the only online footprint the company seems to have, making it difficult for me to locate the official press release or anyone to contact about said news. I feel left out of the news party! Why didn’t anyone wake me up! Anyway, here is what we have learned so far.
Legacy Breweries seemed to first pop up in April when it acquired a majority stake in Oregon’s Ninkasi Brewing. Think of Legacy like Artisanal Brewing Ventures or Canarchy or Brooklyn Brewery’s stable — an entity grouping together a collective of craft breweries to achieve some economies of scale and added sales muscle (and capital) while each can still function as an independent company.
Legacy has purchased all of Aspen Brewing Co.’s assets, including its name, IP, downtown tavern and its production facility. Legacy is adding all of Laurelwood’s assets except its Portland brewpub.
Aspen Brewing will retain the same leadership, but plans under Legacy include scaling up to 10,000 bbls (currently in the 4,000-bbl range) and exploring other taproom locations.
Legacy Brewing is being funded in part by EPR Properties, a Kansas City, Missouri-based real estate investment trust. EPR owns a variety of entertainment destinations, like Six Flags amusement parks, some Top Golf locations, ski resorts and so on. Legacy’s CEO is Don Bryant, a former CEO of Yakima Chief Hops.
Bryant told the Aspen Times his goal by the end of 2020 is to have 15 breweries.
We will have much more about this company and its intriguing strategy once we take a shower and locate someone to talk to. For more info from those who have cracked the code already, check out this article from the Aspen Times, or this one from Brewbound.
David Heltzel says
On this episode of people with too much money buying stuff they don’t need
Delia Barr says
David Heltzel and assuming they’ll know how to manage the businesses and navigate the industry…
Fred Thibodeaux says
Surprised Legacy Breweries doesn’t own Legacy Brewing