Sometimes, those dollar signs have to leave behind the rest and go where their heart takes them.
The state of Texas doesn’t seem to respect the craft brewing businesses in its state, but outside investors are clamoring to show their love. The latest: Deep Ellum Brewing Co. has sold a 56 percent ownership stake to Storied Craft Breweries. The $8 million price tag buys out out more than 20 former investors in the project, according to Brewbound.
Let’s meet Storied Craft Breweries
Via this upstart capital group’s website:
Our concept is built on deep industry insight. Our leadership team has created and executed some of the nation’s most successful marketing and sales programs, building brands within the Beverage Alcohol Industry for over 30 years. We offer flexible and scalable solutions backed by an active and long-standing network of partners and distributors.
The group pitches its marketing and operational expertise as well as its legal, financial and HR development services. Just how much capital the group is working with isn’t known, but the leadership team is definitely deep with beer and general business expertise:
The aptly named Howard Draft, management, recently retired as Executive Chairman of DraftFCB (currently FCB) in December 2014. As Draft’s Chairman and Chief Executive Officer, he turned what was a direct marketing agency into a global marketing services company with expertise in all media, retail, digital, promotion and general advertising. The business grew dramatically through a strategy of organic growth and acquisitions. In his career, key client relationships include: HBO, Verizon, KFC, Taco Bell, State Farm Insurance, American Express and Beiersdorf/Nivea.
RELATED: Exit strategy: Always have a plan for selling your interest in your craft brewery
Kevin Berg, management, has over 35 years of executive sales, distribution, management and marketing experience, primarily in the Beverage Alcohol Industry. He has served as Division Manager, Bacardi Imports; Regional VP Sales, Coors Brewing Company; EVP Sales and Marketing-West, G Heileman Brewing Company, EVP/GM, Original New York Seltzer Company; EVP/GM, Effen Vodka, and EVP/GM, Apostrophe Brands/Kilo Kai Spiced Rum.
Steven Weiner, management, has over 30 years of experience in sales, operations and finance. He led the merger of the fourth and fifth largest travel management firms resulting in the creation of the third largest company in the industry while blending two diverse cultures and achieving significant financial synergies.
The most familiar face is Adam Lambert, operations, who has spent 20 years in the beverage industry. Prior to SCB, he worked with three prominent craft brewers: two years as VP of Sales New Holland Brewery and Distillery, seven years’ as VP of Sales for Dogfish Head Craft Brewery and six years as National Sales and Marketing Manager for Rogue Ales. His past experiences include owning a wine distribution company and beverage brokerage, and he is a long serving member of the Brewers Association.
In the 6 years overseeing the growth at Rogue Craft Brewery, Adam grew the brand from 28K barrels to 78K. The brand expanded distribution to all 50 states and 20 countries internationally, being one of the first American craft beers to be sold in China. Rogue’s distribution footprint consisted of 125 distributors across 50 states. Adam then joined Dogfish Head Craft Brewery as VP of Sales, managing a fast paced growing brewery for seven years.
