Molson Coors buys Hop Stuff Brewery
Hop Stuff Brewery opened in 2013 and has three taproom bars in London, and gained 1,300 investors over three rounds of crowdfunding (its 2016 crowdfunding round saw £1.5m / $1.8m invested).
Over recent months, however, the brewery has been experiencing financial difficulties and went into administration on Friday 12th July. It has now secured an asset sale to Molson Coors Brewing Company as part of a pre-packaged administration process, which covers the brewery, brand, taprooms and transfer of all staff. This means that the brewery can start brewing and supplying Hop Stuff beers again.
However, a full sale of the shareholding of the company was deemed to be commercially unviable and so there will be no returns to investors.
In a letter to investors, founder and managing director James Yeomans apologised for this outcome. “I wanted so much to turn the passion you have for Hop Stuff Brewery into a financial win for you and I am absolutely gutted that hasn’t happened.
“I want to thank you so much for your belief in us. You have helped to build this business and I want to make sure that you continue to feel a part of it.
“With Molson Coors’ support and guidance, we are going to be able to start brewing again and be able to supply our customers in London. Hop Stuff beers won’t disappear.
"I would completely understand if you wanted to wash your hands of us, but I very much hope that you don’t. If you’d like to remain a part of our journey, together with Molson Coors, we will be launching a Hop Stuff Collective for original investors who would like to stay involved.
"Members of the Collective will receive exclusive access to key events throughout the year, a product subscription, discounts and be invited to be part of New Product Development through quarterly tastings and innovation sessions at the brewery.”
Other recent UK craft beer acquisitions include Lion's acquisition of Magic Rock Brewing and Fourpure Brewing Co.
