Smuttynose Brewing to be Sold at Auction

Share This Article

Smuttynose Brewing Company has been in business for 24 years, but as the craft beer industry has exploded, its competition has gained more than just a foothold. And it’s because of a crowded marketplace, that Smuttynose has decided to put itself up for sale.

Changes in the Marketplace

Located in Hampton, New Hampshire, Smuttynose has faced stiff competition in recent years. There are now 19 breweries in its vicinity and 70 breweries altogether in New Hampshire. They’ve been able to find success following changes to a state law in 2011 that removed financial hurdles for nano breweries.

Smuttynose has the capacity to brew 75,000 barrels of beer annually. Although it has been operating at half its capacity recently. The brewery currently employs 68 people and annually generates $10 million in revenue.

The owner of Smuttynose, Peter Egelston, is hopeful that a cash infusion will stabilize the business. The sale will include its brand, the brewery located at historic Towle Farm, and the Hayseed restaurant adjacent to the brewery.

The bank auction will take place 2 PM on March 9 at 105 Towle Farm Road in Hampton. The terms of the auction include a $250,000 deposit and the closing is expected to take place within 55 days.

The governor of New Hampshire, Chris Sununu, said in a 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.”

Smuttynose Brewing is recognized for crafting tremendous beers for over two decades. Here’s hoping that tradition continues.

Advertisements

Leave a Reply

Your email address will not be published. Required fields are marked *

News

Latest Craft Beer News

21st Amendment Brewery Calls For Lender Moratorium

21st Amendment Brewery is urging officials to advocate for commercial lenders to institute a 60-day moratorium on principal and interest payments. Read More

Virginia Beer Company Marks 4th Anniversary With Curbside Can Releases

The Virginia Beer Company marked its 4th anniversary amid a rapid transition to takeaway and delivery services in response to the COVID-19 pandemic. Read More

SanTan Brewing Converts Expired Beer into Hand Sanitizer

SanTan Brewing Company is partnering with Crescent Crown Distributing to recycle over 16,000 gallons of draft beer that will not be delivered into hand sanitizer. Read More