Craft Brewing And Distilling News for February 26, 2014February 26, 2014
•Boston Beer posted 23% depletions growth for its full year 2013 on a 25% shipment increase to 3.4 million barrels, or 46.8 million (2.25-gallon) cases. Net income was up 18% to $70.4 million. The company credited the sales jump to growth in its Samuel Adams, Twisted Tea and Angry Orchard brands. Boston Beer chairman and founder Jim Koch added that two new offerings under the Samuel Adams brand—spring seasonal Cold Snap and year-round offering Rebel IPA—have been well-received in the early going. Company president and CEO Martin Roper noted that, during 2013, Boston Beer’s “supply chain struggled under the unexpected increased demand and we experienced higher operational and freight costs as we reacted.” To meet that challenge, the group sees “a continued high level of brand investment and capital investment” looking ahead, with full-year 2014 capital spending to range between $160 million and $220 million. Boston Beer is projecting 2014 depletions growth of 16%-20%.
•Cooperstown, New York-based Brewery Ommegang has released Glimmerglass, a new spring seasonal. Inspired by Cooperstown’s Otsego Lake, Glimmerglass is made with white wheat and Bravo, Styrian Golding, Columbus and Cascade hops, as well as pink peppercorns and orange peel. The 5.4%-abv offering, which is characterized by a variety of fruit, malt and spice notes, will be available for a limited time in 12-ounce four-packs and on draft. Glimmerglass marks the fourth limited edition seasonal entry for Ommegang, joining its Scythe & Sickle, Fleur de Houblon and Adoration releases.
•Oskar Blues is releasing the fourth edition of its Gubna Imperial IPA on tap and in 12-ounce 4-packs from March until May. The Colorado-based brewers created the 10%-abv IPA with Chinook, Mosaic and Sorachi Ace hops, which play off a base of Rye, North American Pale and Munich malts. Each year, Oskar Blues alters the hop bill for variety in its spring release so that no two Gubna batches are the same. The craft brew is available in 34 states and the District of Columbia.
•World of Beer, a network of taverns around the country featuring hundreds of craft beer and spirits options, has appointed Ken Cruley as chief financial officer and Terry Haley as vice president of marketing to drive further expansion. Cruley previously worked as senior audit manager at Deloitte & Touche and as CFO of First Watch Restaurants, a 105-restaurant chain. Haley has worked in various marketing roles for P.F. Chang’s China Bistro and SABMiller, where he handled brands such as Foster’s and Leinenkugel’s. Founded in 2007, World of Beer currently has 52 locations in 16 states and is planning new outposts for New York City, Albany, Boston and Atlanta.Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.