Coronado Brewing Acquiring Majority Share In Monkey Paw Brewing
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MyBeer Buzz
From Coronado:
San Diego, CA – July 18, 2017 – In today’s tumultuous beer climate, two of San Diego’s most respected and award-winning independent craft breweries are joining forces to deliver more beer to thirsty fans. Coronado Brewing Company will acquire a majority share in Monkey Paw Brewing Company. The move allows Monkey Paw to share in Coronado’s resources, further developing the brand, while simultaneously maintaining the independence, integrity, and quality that Monkey Paw has become known for. The acquisition is expected to closeSeptember 1, 2017, for an undisclosed amount.
"We are excited to bring Monkey Paw Brewing Co into our family," says Brandon Richards, COO, Coronado Brewing Company. "We’re looking forward to partnering w/Scot Blair and his team; they have built a tremendous brand from the ground up, and their beers are incredibly well-respected. We can’t wait to share their brand with an expanded audience."
The partnership will enable Monkey Paw to bring more of its beer to fans throughout Coronado’s distribution footprint. The plan is to grow organically, with Coronado working with Monkey Paw to expand draft accounts, refresh its branding, and increase off-premise distribution. "Scot Blair has created a brand with a lot of momentum, and we don’t want to mess with that too much," says Richards. "The pub will continue to operate as-is, and we’re looking at releasing new cans in the near future."
Coronado’s move to acquire Monkey Paw comes at a time when many regional breweries are experiencing declining sales. "We have been looking for the opportunity to bring in a brand that fits with our culture, and doing so allows us to realize our operational efficiencies," says Richards. "It also gives us the opportunity to sell more beer in California, which we love doing. We think this is a powerful extension of our brand and a great way to diversify our offerings."
For more information about both companies, visit www.coronadobrewing.com andwww.monkeypawbrewing.com. Stay Coastal. Cheers.
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