US: Craft brewer Founders plans $US25m expansion - reports
US craft brewer Founders is planning to spend US$25m on doubling its capacity as it witnesses rapid growth, according to local reports.
The company, based in Grand Rapids, Michigan, is looking to complete the expansion by next May, which will see its annual capacity reach 600,000 barrels. It comes on top of a $26m expansion of the firm's brewhouse, cellar and company taproom last year.
“We are trying to move fast and furious,” Founders Brewing Co's CEO, Mike Stevens, told Mlive.com. “Just in the last couple months, things have heated up for us quite a bit.”
Founders' sales rose 54% in 2013 and sales of its flagship brand All Day IPA are up 138%, Stevens reportedly said. The company currently employs around 250 people, but this is expected to rise to 300 with the added capital spend, it was reported.
Founders is the 26th largest US craft brewer by volume, according to latest Brewers Association figures.
Sectors: Beer & cider
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