canopygrowth

Ron Gershoni is the Co-Founder and CEO of Jetty Extracts, one of the true originals in the California cannabis market.

Canopy Growth Corporation and Jetty Extracts (“Jetty”) recently announced a plan for the acquisition of Jetty by the Company. 

Craft Brew News - 12/13/19
(Courtesy of Brewbound – www.brewbound.com)

The Wine Group Chairman Backs Kings & Convicts in Ballast Point Purchase

Richard Mahoney, the chairman of the board of The Wine Group, is the lead investor in Chicagoland craft brewery Kings & Convicts’ acquisition of Ballast Point Brewing Company from Constellation Brands, according to the Chicago Tribune.

The Wine Group’s 25 wine brands include Cupcake, Franzia, Flip Flop and Benziger.

Since Constellation Brands announced the deal to unload Ballast Point, industry observers have pondered the sale price for the San Diego craft brewery that sold for $1 billion in cash just four years ago. Subscription-based newsletter Beer Business Daily reported that Credit Suisse analyst Kaumil Gajrawala pegged the transaction at under $100 million.

According to financial services firm Cowen, Ballast Point sales are down 32% year-to-date.

Brooklyn Brewery Restructures U.S. Sales Staff

Brooklyn Brewery has restructured its U.S. sales team in an effort “to better reflect the realities of the current U.S. beer market,” the company announced this week.

“Simply put, craft brewers have been putting too many resources into hand selling, and have been under-investing in the marketing and brand building sides of the business for too long,” the company said. “In some markets supplier reps outnumber distributor reps, with craft brewers continually adding staff and creating a headcount race that isn’t sustainable. We have not been immune to this problem, and today took the step to reduce our sales force to a more rational level.”

In July 2017, Brooklyn announced plans to create a national sales and distribution platform with more than 150 sales personnel and brand ambassadors covering 38 states. As part of those plans, Brooklyn combined sales forces with California’s 21st Amendment (21A) and Colorado’s Funkwerks. Brooklyn, which sold a 24.5 percent stake to Japan’s Kirin Brewery in October 2016, acquired undisclosed minority stakes in both craft breweries.

Constellation Brands CFO Named New CEO of Canopy Growth

Canadian Cannabis company Canopy Growth Corporation announced today the appointment of
David Klein as CEO, effective January 14, 2020.

Klein has served as the chief financial officer of Constellation Brands since mid-2015. Klein’s appointment as chief executive comes just two months after he was named chairman of the Canadian cannabis company’s board of directors. He will step down from his CFO role at Constellation upon assuming the Canopy CEO role.

Canopy Growth and Constellation Brands have been intertwined since the New York-headquartered beer, wine and spirits company made its first investment of $191 million in the cannabis company in October 2017. All in, Constellation Brands has invested $4 billion in Canopy Growth for a 38% ownership stake in the company.

The move comes a week before THC-infused beverages and edibles will become legal in Canada on December 17.

Klein’s ascension to CEO follows a turbulent run for Canopy as the company’s financial results continued to underperform. Canopy announced in June that co-founder and co-CEO Bruce Linton had stepped down as CEO. Linton, however, told CNBC at the time that he was “terminated.”

Constellation has recorded more than $590 million in losses on its $4 billion investment in Canopy, though CEO Bill Newlands expressed confidence in Canopy’s plans during Constellation’s third-quarter earnings call.

Canada legalized recreational cannabis in October 2018.

Foolproof Brewing Founder Lists Rhode Island Craft Brewery for Sale

After seven years, Foolproof Brewing founder Nick Garrison is seeking a buyer for his Pawtucket, Rhode Island-based craft brewery.

Garrison said, “It’s largely a personal decision,” After working for nearly a decade in the industry, it’s just time for the next chapter.”

Garrison declined to share a selling price.

Foolproof’s assets include its 30-barrel brewhouse and 1,000 sq. ft. taproom, as well as the building and land the brewery sits on.

In 2018, Foolproof produced an estimated 3,120 barrels of its 10,000-barrel capacity brewery, although the company did not provide final volume data. That figure, however, is down from Foolproof’s peak production of 3,900 barrels in 2016.

Foolproof’s beer is sold in Rhode Island, Connecticut, Massachusetts, Vermont, New Hampshire, Maine, New Jersey, Delaware, the city of Philadelphia, and the United Kingdom.

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michael@bearairishbrew.com

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Mit Cannabis-Aktien konnte man sehr, sehr viel Geld verdienen, bis im Februar 2019 die Kurse begannen einzubrechen. Selbst die Großen der Branche blicken auf bis zu 90% Kursverlust. Wir besprechen heute, wo die Ursachen für diesen Einbruch liegen und ob aus meiner Sicht, Cannabis-Aktien wieder gekauft werden können. ► TIPP: Sichere Dir wöchentlich meine Tipps zu Gold, Aktien, ETFs & Co. – 100% gratis: https://erichsen-report.de/ Viel Freude beim Anhören. Über eine Bewertung und einen Kommentar freue ich mich sehr. Jede Bewertung ist wichtig. Denn sie hilft dabei den Podcast bekannter zu machen. Damit noch mehr Menschen verstehen, wie sie ihr Geld mit Rendite anlegen können. ► Mein YouTube-Kanal: http://youtube.com/ErichsenGeld ► Folge mir bei Facebook: https://www.facebook.com/ErichsenGeld/ ► Folge meinem Instagram-Account: https://www.instagram.com/erichsenlars Die verwendete Musik wurde unter www.soundtaxi.net lizensiert. Ein wichtiger abschließender Hinweis: Aus rechtlichen Gründen darf ich keine individuelle Einzelberatung geben. Meine geäußerte Meinung stellt keinerlei Aufforderung zum Handeln dar. Sie ist keine Aufforderung zum Kauf oder Verkauf von Wertpapieren.

Craft Brew News 7/05/19

(Courtesy of Brewbound.com)

German Brewer Gilde Reveals US Expansion Plans

German Brewer Plans to Operate Large Manufacturing Brewery in Charlotte

German brewer Gilde has an ambitious plan to build one of the largest individual craft brewing facilities in the United States.

According to the Charlotte Observer, the company is looking into the possibility of eventually brewing upwards of 500,000 barrels annually in North Carolina, however the timetable for beginning that project is still nearly three years away.

In the meantime, Gilde CEO Karsten Uhlmann told the outlet that his company would begin by importing beer into the U.S. via Anheuser-Busch wholesaler Adams Beverages this month.

The Hanover-headquartered beer company — which produced 850,000 barrels of beer last year — then plans to open a 5,000 sq. ft. small-batch brewery called “The Embassy” before the end of 2019. Two-to-three years later, Uhlmann added, the company plans to open a 100,000 sq. ft. facility capable of being scaled to 500,000 barrels that will also feature a taproom, beer garden and kitchen.

Pennsylvania Lawmakers Lower Brewery Sales Tax

Pennsylvania lawmakers and Gov. Tom Wolf on Friday approved legislation (H.B. 262) to lower an impending sales tax on beer sold in taprooms, tasting rooms and brewpubs. In a press release, the Brewers of PA announced that after 18 months of negotiations with legislators and the governor’s office, an agreement had been reached.

The Pennsylvania Department of Revenue (DOR) was slated to begin collecting a 6 percent sales tax for every dollar of beer sold directly to consumers at brewery locations starting July 1. That tax would have been on top of an existing $2.48 per barrel state excise tax that Pennsylvania beer companies already pay.

However, H.B. 262 amends to the tax code to allow breweries to “pay 6 percent sales tax on 25 percent of the retail sale” of a pint. According to the Brewers of PA, that formula is in line with the wholesale price paid for beer by restaurants, bars and grocery stores.

Canopy Growth Corporation Terminates Co-Founder and Co-CEO Bruce Linton

Canopy Growth Corporation (TSE: WEED) today announced that co-CEO Bruce Linton has stepped down as chief executive and board member.

However, Linton, who co-founded the company in 2013, called into CNBC to clarify that he was fired from the world’s largest cannabis company.

“I think stepping down might not be the right phrase,” he said. “I was terminated.”

Mark Zekulin, who had been co-CEO with Linton, will takeover as the sole CEO, while Canopy works to identify a replacement.

Last August, Constellation Brands upped its investment in the company, spending $4 billion to acquire 104.5 million shares of Canopy, raising its stake to about 38 percent.

In April, it struck a deal with Acreage Holdings, agreeing to acquire the New York-based cannabis company for $3.4 billion when marijuana becomes federally legal in the U.S.

Linton had a knack for deal making, and helped lead a company that was growing revenue at a healthy clip, but Canopy last month reported a record low gross margin of 16 percent during the fourth quarter of fiscal 2019, and an EBITDA loss of $98 million.

Meanwhile, during Constellation Brands’ first quarter earnings call, CEO Bill Newlands said the company was “not pleased” with Canopy’s recent financial results.

Bell’s Offers Employees Assistance in Obtaining GEDs

Bell’s Brewery is making an effort to help employees without high school diplomas to pass the GED (General Educational Development) test. The Michigan craft brewery is offering employees access to free tests, online study tools in and a personal advisor through the GEDWorks program.

Bell’s human resources services manager Emily Schuiling said in a press release.
“When we discovered a talent pool that was rich in passion and dedication, but didn’t meet the hiring requirements for some of our roles, we knew we needed to help fill that gap. GEDWorks has been nothing short of amazing,”

Bell’s employs more than 550 workers across 41 states, Washington, D.C., and Puerto Rico.

Subscribe to Craft Beer Storm Podcast iTunes:
https://itunes.apple.com/us/podcast/craft-beer-storm/id1438117278?mt=2

*** A Top 20 Podcast in Food on iTunes ***

Michael Potorti is the Host of Craft Beer Storm and Founder/Brewer at Beara Brewing Co. in Portsmouth, NH

*** Interested in starting your own brewery? Our Portsmouth, NH TURNKEY facility is for sale! Follow link for more info:

https://www.neren.com/Listing/2800-Lafayette-Rd-12A/5cdda2dabf34cb9150a7faeb


Michael Potorti
Founder/Brewer
Host of "Craft Beer Storm" Podcast
michael@craftbeerstorm.com
michael@bearairishbrew.com

*** Come visit our brewery for some delicious local craft brew! ***

Beara Brewing Co.
2800 Lafayette Road
Portsmouth, NH 03801
Tel. (857) 342-3272

www.bearairishbrew.com

Like us on

Instagram: https://www.instagram.com/bearairishbrew/?hl=en


Facebook: https://www.facebook.com/BearaIrishBrewingCo

Twitter: https://twitter.com/BearaIrishBrew

Linked In: https://www.linkedin.com/in/beara-brewing-co-30776075/

**LISTEN to our Craft Beer Storm Podcast and share with a friend**

Craft Beer Storm Podcast iTunes:
https://podcasts.apple.com/us/podcast/craft-beer-storm/id1438117278

Craft Beer Storm You Tube: https://www.youtube.com/channel/UCp3PVuCGmywNWlGFh0N0ukg?view_as=subscriber

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