Tuesday, April 17, 2018

Remember when Green Flash ruled the West Coast IPA?

Here's another press release for you to digest. This one carries more detail with it over at Brewbound, which I encourage you to follow and read.

There are numerous ways a brewery can go out. Whether this is the revival of Green Flash or just an intermission remains to be seen, but there's enough doubt it will ever be the same. Here on the east coast, we may not see it again for the foreseeable future, as the new owners begin to reel distribution back much closer to home in southern California.

And the Virginia Beach location that just opened a little over a year ago? The one that I'd swear would be a perfect stopping point along the way to/from my annual Outer Banks (NC) vacation? But yet the timing never worked out to show up during open hours? That's closed up. Such a shame. Here's the press release below and the rest of the color at Brewbound.

Green Flash Brewing Completes Previously Announced Sale to Investor Group; Announces Addition of Dave Mills as New Vice President of Sales

Award-winning San Diego brewery emerges from the sale with stabilized financial position and streamlined operations

San Diego, CA – April 2, 2018 — San Diego-based Green Flash Brewing Company is excited to announce the completion of the previously-announced sale of its West Coast brewing operations. The new investor group, which includes a number of individuals with extensive experience in both the craft beer and food and beverage industries, is committed to maintaining Green Flash’s status as an iconic independent craft-brewing interest. With this new financial backing and focus, Green Flash will return to its Southern California roots, while consolidating distribution of its beers and those of sister-brand Alpine Beer Company to San Diego County and the greater Southwest.

Green Flash Brewing Company emerges from the sale with a stabilized financial position and streamlined operations. Green Flash has ceased operations at its production brewery in Virginia Beach, Va., its barrel-aging facility in Poway, Ca., and completed its transition from national to regional distribution. The company will focus on brewing exceptional beer, connecting with customers, and building the brands in the core markets of California, Arizona, Colorado, Hawaii, Nevada, Texas, Utah, and Nebraska.

The Green Flash and Alpine breweries will continue to operate in San Diego and Alpine, respectively. Meanwhile, the Green Flash Brewhouse & Eatery in Lincoln, Neb. will open in April, and will brew specialty beers serving the state of Nebraska. This brewery will serve as the model for future customer connection points in the Southwestern United States.

Green Flash Brewing Company is also announcing some changes to the management team, led by the announcement of Dave Mills as new Vice President of Sales and Business Development. Dave, who previously served as Chief Sales Officer at Ballast Point Brewing Company, will manage all sales and trade marketing activities. Dave said, “I am stoked to join the Green Flash team in my hometown of San Diego. The Green Flash and Alpine brands are iconic in San Diego beer culture. This opportunity is the dream of a lifetime and I can’t wait to begin my new adventure.”

Dave will replace Jim Kenny, who served as VP of Sales for the last eight years. Jim leaves a legacy, as he spearheaded growth for Green Flash from 14,000 to over 90,000 barrels per year at its peak. “Jim’s Hungwah-spirit and GSD work ethic pushed us to great heights,” says Hinkley, who added, “I wish Jim all the best and I know he will find a great position in the beer business."

Mike Hinkley, who started Green Flash 16 years ago, will lead the company. Chris Ross, President, will leave the company. Chris was appointed President in late 2016 and did an outstanding job guiding the company through some difficult times over the past two years. “Chris helped reshape the company, making this transaction possible. We are all very grateful to him for all of his efforts,” said Hinkley.

Other key management roles include Erik Jensen – Vice President of Brewing Operations, Dave Adams – Vice President of Hospitality, Nicole Hanlon – Director of Human Resources, and Katie Wolbrink – Controller.

The investor group was represented by Livingstone Partners, an international middle market M&A firm with seven offices located in the United States, Europe and Asia.

About Green Flash Brewing Co.
Green Flash Brewing Co. is headquartered in San Diego, California. Established in 2002 by co-founders Mike and Lisa Hinkley, it has grown into the 43th largest craft brewing company in the country behind iconic brands such as West Coast IPA, an award-winning beer whose wide acceptance helped define one of the most popular style categories of all time. Brewmaster Erik Jensen leads brewing operations for beers within the Green Flash portfolio as well as those of Alpine, Calif.-based Alpine Beer Co., which the company acquired in 2014. For more information, visit: www.greenflashbrew.com.

© Bryan J. Kolesar and The Brew Lounge, 2018. All content is owned and uniquely created by Bryan J. Kolesar. Unauthorized use and/or duplication of this material without express and written permission from Kolesar is strictly prohibited. Excerpts, images, and links may be used with advance permission granted and only provided that full and clear credit is given to Bryan J. Kolesar and The Brew Lounge with appropriate and specific direction to the original content. Contact Kolesar at TheBrewLounge@gmail.com

No comments: