After experiencing that jaw-dropping 400+ percent growth mentioned in that headline (with production reaching 15,400 barrels), Lord Hobo Brewing Co. is looking to stay on track to achieve another year of substantial growth. That includes a wave of business maneuvers that involve strategic planning, fundraising and personnel additions aimed at bolstering Lord Hobo’s trajectory.
Lord Hobo Brewing (Woburn, Mass.) continues to rally to keep up with demand for its beers with ongoing fundraising for essential capital. Lord Hobo recently closed a round of fundraising which includes securing a line of credit from a major U.S. bank and a minority equity investment from Valterra Partners, a boutique growth capital firm. The new capital will allow the brewery to execute a number of essential capital investment projects.
“We are very happy to have found a supportive partner in Valterra,” said Daniel Lanigan, founder and CEO of Lord Hobo Brewing. “I’m ecstatic by the immense amount of support from our partners and growing fan base … I’m grateful that we don’t have to slow this train due to capital constraints. The Lord Hobo team is dedicated to sharing our beers with thirsty-consumers, and the ability to fulfill demand is incredibly exciting.”
By the end of 2017, Lord Hobo will have added 30 employees to its team, a nearly 80 percent increase since 2016. Key recent hires include Quality Control Manager Trevor Bland and Brewhouse Production Manager Frank Fermino, who came from the Craft Brew Alliance and will be instrumental in upholding Lord Hobo’s commitment to producing the highest quality beer. Lord Hobo has also picked up Lindsay Berk as its vice president of marketing. Former Chief Branding Officer at Uinta Brewing Co., Berk will develop a robust marketing program at the brewery. Other key positions have been added including several territory sales managers, brewers, cellarman and other vital brewery talent.
To accommodate demand Lord Hobo will double its cellar capacity this year — bringing the total capacity to 54,000 bbls. Additionally, the brewery will augment its QC lab equipment and will commission a state-of-the-art Krones canning line. 2018 will see further cellar additions, as well as an augmentation of the 40-bbl brewhouse. Additionally, Lord Hobo’s production expansions will be met by a more imminent renovation of the Woburn, Mass., taproom. The new and improved beer hall is scheduled to open early 2018.
On the beer side, the brewery introduced two additional year-round products in early 2017: Glorious, a Galaxy Pale Ale, and Consolation Prize, a beautifully drinkable Double IPA. Lord Hobo’s portfolio now ranges the full spectrum from a session IPA to a double IPA, with everything in between. Boomsauce, Lord Hobo’s flagship IPA, continues to grow both in volume and in consumer loyalty. The beer currently makes up 40 percent of the brewery’s production. With the company’s foundation laid and loyalties earned, new products and package-types will play a key role in Lord Hobo’s evolution, as it strategizes to expand its portfolio in early 2018.
Coupled with greater penetration throughout their New England distribution footprint which includes Massachusetts, Maine, New Hampshire, Vermont, Rhode Island, Connecticut and upstate New York, new market expansion will continue to help fuel Lord Hobo’s growth. In early August, Lord Hobo beers launched statewide in Florida and will soon commence distribution in four additional markets — Indiana, Ohio, New Jersey and Pennsylvania.
“As a long time publican, I have a deep appreciation for the distribution and retail tiers in the beer industry,” added Lanigan. “Our growth has and always will be dependent on continued investment in our brewery, our team and our brand to enable success at all three tiers. From our birth two years ago, we’ve emphasized the importance of producing high-quality beers that are widely available. I’m more than pumped to see us making that happen.”
Lord Hobo is poised to achieve another year of triple-digit growth. The brewery is on track to exceed 30,000 bbls in 2017.
All hail Lord Hobo!