Hold My Brewery: This Popular Local Beer Maker Is for Sale and It's Gorgeous
Photos — Smuttynose Brewing Co. & Hayseed Restaurant/Facebook
HAMPTON (AP) — A 24-year-old New Hampshire microbrewery is seeking a buyer, saying the explosion of competition has led to changing marketplace dynamics.
Smuttynose Brewing Co. says it's scheduled to be sold at a bank auction on March 9. It employs 68 people and generates more than $10 million in revenue annually.
“The company’s financial models were based on 20 years of consistent growth but the explosion of microbreweries has led to changing dynamics in the marketplace," Owner Peter Egelston said in a prepared statement. "This dramatic shift occurred just as Smuttynose committed to a major infrastructure investment with the construction of the new production facility. As the turmoil in the marketplace stabilizes, Smuttynose, a trusted brand with strong consumer loyalty, can regain its footing with a major infusion of capital.”
The sale includes the Smuttynose beer brand, its facility on the historic 14-acre Towle Farm in Hampton and a restaurant located next to the brewery (see photos of the gorgeous grounds below).
Smuttynose says the brewery is capable of producing 75,000 barrels a year. However, in the last year it has been running at 50 percent capacity.
“Smuttynose’s strength lies in their dedicated and engaged employees” said New Hampshire Gov. Chris Sununu in a prepared statement. “They have been a strong and reliable community partner throughout the years, and I hope the new owners, once determined, will appreciate their hardworking employee base by committing to keeping these manufacturing jobs in New Hampshire.”
Here's a look at some of the brewery's features:
A large indoor-production facility
Plenty of space for outdoor events and parties
A large barn and hops vines
The "Bahn Yahd" beer garden
Dining and bar area