I just saw this and yes I am slow but check it out.
Pyramid and Magic Hat to merge.
I find this rather shocking news especially with the locations and the relative anti establishment nature of Magic Hat. It just strikes me as strange bedfellows.
What are your thoughts?
3 comments:
My thoughts? Why should anybody care unless they are an employee? Seems like a perfect fit, don't they both make a beer with some sort of apricot-flavored additive?
This is almost everything that is wrong with "craft" beer in the US...a bunch of business school and marketing types and very few passionate souls (from the link):
“The combination of these two well established, high profile craft breweries will be very complementary given our respective brand portfolios and the geographies in which we predominantly operate. Additionally, there will be a number of important benefits for Pyramid to be part of a private company versus continuing to operate as a stand alone public entity. This consolidation makes both good strategic and financial sense and is well timed, particularly as the beer industry’s competitive dynamics continue to intensify,” said Pyramid CEO Scott Barnum. “The Company will continue to have offices in Seattle, its historical home, and will seek opportunities to capitalize on the enhanced assets and capabilities of the new combined entity,” he added.
Strange bedfellows indeed - not too suprising though. MH founder is on his 3rd business venture - he sold his previous 2 business after getting them up and running and growing them through the ceiling. Pyramid has been suffering somewhat from what I'd call Petes Wickeditis - that is a big Public Co. running a small brewery, squeezing all the quality uniqueness and fun out of it's once pretty cool beers. Upside for MH is they should have access to beer produciton on the west coast - upside for Pyramid is maybe they'll have some people with real beer as opposed to financial roots.
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