(Press Release)
LAKEWOOD, NY—Southern Tier Brewing Co. announced today that it has hired John Coleman as Chief Executive Officer, effective Monday, September 22. It has also entered into a partnership with Ulysses Management LLC, a New York based family investment firm. The partnership will support the continued expansion of the brewery, new distribution support, sales force growth, and enhanced branding and marketing initiatives.
Southern Tier was founded in 2003 by Phin and Sara DeMink in Lakewood, New York and is one of the fastest growing craft brewers in the U.S., with average annual volume growth of 48% since inception. It is known for its diverse portfolio of innovative beers that embodies the spirit of American craft brewing. Southern Tier constructed a new brewery in 2009 and has since undergone a series of expansions, increasing annual capacity to over 200,000 barrels. This August, it launched the DeMunck’s Hard Cider brand and will be opening a sister craft distillery in 2015.
John Coleman is a 25 year veteran of the beer business. He is a former President and COO of Pabst Brewing Company and, before that, enjoyed a successful career at Anheuser-Busch culminating in the role of SVP Sales, Western Region. Most recently, John has been working with craft distillery brands to develop new paths to market and facilitate distribution relationships.
“I’m excited to have John as a member of the Southern Tier team because I think the brewery has an amazing opportunity and I want to make sure we seize it. We’ll do well over 100,000 barrels this year with growth in excess of 40%, but that’s really just scratching the surface when you consider the bigger picture,” said Phin. “We’ve always made the highest quality beer, this is about building an organization that can sustain and improve upon our high standards of excellence as we grow. John is the right guy to lead this process. He’s a beer guy through and through who’s won the respect of distributors and retailers around the country over his many years in the industry with hard work, integrity and a spirit of partnership. This will allow me to focus on what I love best – making beer and innovating. I can’t wait to start designing the future of Southern Tier together.”
“I am thrilled to be joining the Southern Tier team,” said John. “Phin and Sara have built an incredible company, brewing some of the best and most innovative beers in America. Their dedication and commitment to quality starts at the brewery and is evident throughout the entire organization. I’m also excited to be working with an absolutely top notch group of distributors who bring unparalleled passion and professionalism every day. I look forward to working with the entire team, growing the company and bringing these great brands to beer drinkers across the USA.”
According to Paul Barnett, Managing Director of Ulysses Management, “We’re honored that Phin and Sara have chosen to partner with us. They’ve created something of enduring value and we’re looking forward to growing Southern Tier together. We have deep respect for the grass-roots origin of craft beer and how it’s been able to transform the beer industry for the better. This is part of a fundamental revolution towards authenticity in what people consume and we feel a great affinity for the movement both personally and professionally. Southern Tier will remain a proudly independent leading craft brewer while benefitting from the tools and resources of a larger organization.”
Phin said, “The industry is maturing and increasing competition is forcing brewers to adapt. I think a patient long-term partnership with people who appreciate the craft movement can play an important role in helping the brewery reach its full potential. Our relationship with Ulysses is exciting for Southern Tier because we now have the capital base to support our ambitious growth plans with major investments in people, process and infrastructure. The Ulysses team is immersed in craft culture and is committed to working with me to build a legacy we can be proud of. With our hiring of John and the partnership with Ulysses, I feel we’ve made a huge commitment to our community,
distributors, retail partners and most importantly to our customers.”
The Ulysses investment is subject to licensing approval. First Beverage Group acted as advisor to Southern Tier Brewing Company.
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