24 year-old New Hampshire brewing company, Smuttynose, is available for sale via auction on March 9th, according to Smuttynose’s statement via their website,” Hampshire’s top craft brewery and producer of one of New England’s most popular craft beer brands, is seeking an immediate buyer. The brewery is among the largest in New England, capable of producing 75,000 barrels a year. However, in the last year it has been running at 50% capacity.”
Smuttynose’s press release seems to hint toward financial woes as their impetus for the sale,
“The company’s financial models were based on 20 years of consistent growth but the explosion of microbreweries has led to changing dynamics in the marketplace. This dramatic shift occurred just as Smuttynose committed to a major infrastructure investment with the construction of the new production facility. As the turmoil in the marketplace stabilizes, Smuttynose, a trusted brand with strong consumer loyalty, can regain its footing with a major infusion of capital.”
Mortgage owner Provident Bank has contracted with James R. St. Jean Auctioneers to oversee the auction of Smuttynose with a starting bid of around 10 million dollars. The bank auction is set for March 9th, 2018 and includes the Hayseed Restaurant, which is a huge 13 acre piece of land next to the brewery, the Smuttynose brand, and its facility on the Towle Farm in Hampton New Hampshire.
If you happen to be a craft beer lover with double-digit millions sitting around, you might just be able to bid your way into owning this craft beer icon!
Cheers!
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