Cole states he and Epic co-owner Peter Erickson financed the acquisition with cash, loans and cash using their own pockets. “Peter’s and my vision a lengthy time ago ended up being to do multiple locations with smaller sized breweries,” Cole states. And even though some medium-size craft breweries are facing flattening or declining sales, Epic keeps growing and can maximize the capability at its Denver brewery in 2018 around 23,000 barrels.
So, the Telegraph addition can give the organization an chance to develop that capacity elsewhere. Included in that, Epic will move seven of their foeders — large wooden vessels accustomed to age sour beer — to California.
The purchases signify a bigger trend toward consolidation by craft breweries which are searching to develop when confronted with growing competition, but without selling to billion-dollar beer giants like Anheuser Busch InBev.
But on Wednesday, Epic announced it would expand to California too — this time around when purchasing a current company, Telegraph Brewing in Santa Barbara. Epic intends to grow the Telegraph name and brand throughout Los Angeles by growing its production capacity and adding twelve-ounce cans. The eleven-years old brewery, founded by John Thompson, focuses on Belgian-inspired beers, but Epic states it’ll give a new number of “modern IPAs,” including hazy ones, and increase Telegraph’s sour beer program.
Epic has become the 2nd local brewery to purchase another brewery in California. Fort Collins-based New Belgium bought San Francisco’s Magnolia Brewery in August. Oskar Blues, meanwhile, has purchased breweries in Michigan and Florida with the aid of its equity owner, Firestone Capital Partners. And North Carolina’s Thirsty Monk lately bought Denver’s Deep Draft Brewing, too as Bazi Bierbrasserie, a Portland beer bar, as a part of an approach to possess a string of small breweries over the U . s . States.
The Telegraph Brewing crew celebrates the acquisition.
“It’s a lengthy-term dream become a reality,Inches Cole writes inside a statement concerning the purchase. “I fell deeply in love with craft beer residing in California which love didn’t diminish after i gone to live in Utah regardless of the beer scene at that time. Personally i think like I’ve come full circle. We’ve been positively searching for excellent breweries to buy within the last 18 several weeks and getting Telegraph Brewing in to the Epic household is exciting.
Jonathan Shikes is really a Denver native who covers business and beer for Westword.