Category: Business of Beer
Industry news related to the brewing industry and the business of beer
News Important Craft Beverage Modernization Act Changes for Foreign Producers and Importers
Starting January 1, 2023, changes to the Craft Beverage Modernization Act (CBMA) will require foreign producers of beer, wine, and distilled spirits to register with the Alcohol and Tobacco Tax and Trade Bureau (TTB) before their US importers can take advantage of reduced tax rates or credits on the imported products. CBMA tax benefits are limited in quantity, and foreign producers may only assign a certain number of benefits to their US importers for each category of product imported.
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News TTB and IRS Descend on Southern Glazer’s Northern California Office
The Internal Revenue Service (IRS) and the Alcohol and Tobacco Tax and Trade Bureau (TTB) descended on the Union City offices of Southern Glazer’s Wine & Spirits last week according to an article in the San Francisco Chronicle. Union City is located just across the Bay Bridge from San Francisco.
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News Boston Beer Shipments Increased 1.4% in Third Quarter – Up 8.0% for Year-to-Date
Boston Beer announced financial results for the third quarter 2022 (13 weeks ending September 24). Depletions for the company decreased 6% and shipments increased 1.4% (to 33,000 bbls) compared to the third quarter of 2021.
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News UK Reverses Planned Freeze on Alcohol Tax
The UK government has cancelled a plan to freeze the duty tax on alcohol, less than a month after announcing the policy. Just last month the UK government said it would abolish a proposed increase in duty rates for beer, cider, spirits and wine and instead proposed a temporary measure to reduce the duty on some types of alcoholic beverages. The freeze had been due to take place in February 2023.
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News Mega-Grocery Merger – Kroger to Acquire Albertsons
Kroger, which operates 2,721 supermarkets across the country announced today the acquisition of Albertsons. The marriage of the two largest grocery store chains in the country will have a combined total of almost 5,000 stores nationwide.
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News Reyes Buying Frenzy Continues with Two More Acquisitions
Reyes Beer Division (RBD) has agreed to acquire Paradise Beverages, Inc. in the state of Hawaii. The transaction is scheduled to close in early December, according to Shanken News Daily. The acquisition adds about 8.9 million cases to RBD’s overall operations, and includes brands from Molson Coors, Constellation, Boston Beer, Diageo, Heineken USA, Maui Brewing and others. RBD will operate the business as Hawaii Beverage, LLC and will maintain all five existing distribution facilities across the state.
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News And the Winners Are….Great American Beer Festival Competition Honors 2022 Winners
The 2022 Great American Beer Festival (GABF) competition awarded 300 medals to the best commercial breweries in the United States. Awards were given out in 98 beer categories covering 177 different beer styles. In addition, three GABF Collaboration medals pairing two professional breweries, and three GABF Pro-Am medals pairing homebrewers with professional brewers, were announced. The awards ceremony was held at the Bellco Theatre in Denver during the 40th anniversary Great American Beer Festival.
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News Two More Oregon Breweries Go Up for Sale
The industry has yet to see a significant number of closures, which many predicted would occur when the pandemic hit. But there does seem to be an uptick in breweries going out of business or looking to sell, as the post-pandemic environment becomes more and more challenging for small brewers.
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News New Jersey Brewery Sues State ABC Over New Restrictions
Last July the New Jersey Division of Alcoholic Beverage Control (ABC) released new restrictions on breweries in the state such as limiting the number of events a taproom can host annually, placing a cap on the number of special events a brewery can hold and prohibiting food trucks at breweries among other restrictions.
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News Pilot Project Brewing Buys Milwaukee Brewing Co Facility to Expand Incubator Projects
Pilot Project Brewing, the brewery incubator based in Chicago has purchased the closed Milwaukee Brewing Co. brewery in Milwaukee. The 43,000-square-foot space includes a production facility, taproom and event space.
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News A New Trend in Craft Brewing? Lost Abbey Announces Bold Move to ‘Grow Down’
Posted by Tom McCormick
The Lost Abbey, considered to be one of the best American producers of barrel-aged Belgian-style sour ales is making an unusual pivot in a rapidly changing and challenging beer industry: they are ‘growing down.’
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