Craft Brewing and Distilling News for July 11, 2017July 11, 2017
•San Diego’s Modern Times Beer Co. has sold an approximately 30% stake in the company to its employees, with the brewer intending to become entirely employee-owned in the years ahead. Under the terms of the plan, employees will become partially vested after two years and fully vested after six. The plan is backdated to January 1, 2017. Modern Times’ production jumped 82% last year to 40,500 barrels, according to the Brewers Association. Modern Times is the first employee-owned brewery in San Diego and joins Colorado’s New Belgium, Oregon’s Deschutes and Boston’s Harpoon in the small minority of employee-owned craft brewers in the U.S.
•California-based Drake’s Brewing has revamped its flagship IPA and relaunched its limited-release triple IPA. Flagship offering Aroma Coma 2XIPA is an 8%-abv double IPA made with Citra hops and rye malt. The beer’s new recipe increased the amount of hops and malt to create a bigger, bolder brew. Drake’s has also re-released Aroma Therapy 3XIPA, an 11%-abv ale made with four hop varieties and orange blossom honey. Aroma Therapy 2XIPA is now available in six-packs and on draft across the West Coast. Aroma Therapy 3XIPA is available at select retailers in California for a limited time in 22-ounce bottles and on draft.Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.