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February 6, 2015

Shipyard Brewing plans $4M expansion

Portland-based Shipyard Brewing Co., the state's largest brewery, is planning to invest $4 million to improve its operations and its national reach.

The Bangor Daily News reported that Shipyard is hoping the investment and other initiatives will secure the brewery a new position in the rapidly growing craft beer market. The other initiatives include direct control of distribution in some states, along with proposed legislation that would allow smaller breweries to use equipment at larger breweries, like Shipyard, when that equipment otherwise would not be in use.

Fred Forsley, Shipyard's founder, told the newspaper the $4 million investment will be used to double its bottling speed and add a permanent line for canned beer. He said those enhancements will be used to improve the company's national reach.

Maine's craft beer industry has seen major growth recently, going from 35 breweries in 2013 to more than 60 by the end of last year, as reported by Mainebiz. An economic impact study commissioned by the Maine Brewers Guild found that out of 2013's 35 breweries, they had sold $92.6 million while employing 1,500 workers. The market share for craft beer nationally grew by 17.2% in 2013, representing $14.3 billion in sales in a $100 billion market.

Source: Bangor Daily News

Read more

Business is brewing: Craft beer's national growth is reflected in Maine

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