US: Samuel Adams rolls out in Latrobe
Boston Beer Co. has started rolling out Samuel Adams beer from the brewery that previously made Rolling Rock.
Last month, the beer company signed a deal to brew Samuel Adams in Latrobe at the former Rolling Rock brewery. The facility was bought last year after its former owner sold the Rolling Rock brand to Anheuser-Busch for US$82m.
Speaking yesterday (21 May), the brewery said that it aims to produce at least 250,000 barrels of Samuel Adams beer for bars, restaurants and other draft beer outlets through the end of the year.
According to the company, the bottling line will start up in June and the brewery plans to bottle about one-and-a-half times as much beer as it sells in barrels. The brewery said it will distribute the beer produced in Latrobe along the East Coast.
The US craft brewer added that it plans to invest US$3m to $7m in the facility, and may eventually take an ownership stake in the plant.
The company recently reported its first-quarter net revenues of $72.4m, up 27.4% from the corresponding quarter last year, on the back of a 23.7% increase in core shipment volumes.
Net income for the first quarter stood at $5.8m, or $0.40 per diluted share, representing an increase of $3.9m or $0.27 per diluted share from the same period last year. The company said the improvement had been driven primarily by an increase in net revenue which was partially offset by increases in costs of goods sold, selling and advertising expenses, general and administrative expenses and income taxes.
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