Beers by Three Monkey's Brewing are sold at Costco, BevMo, Raley's, Save Mart and more. Photo via Three Monkeys Facebook page
Written by The Business Journal Staff
Another local microbrewery is offering investors a piece of the action in hopes of expanding its operation.
Madera-based Three Monkeys Brewing plans to offer up to 40 percent equity in the company to raise $1 million to build a new brewery and taproom, according to a news release.
The announcement follows on the heels of Fresno-based Full Circle Brewing, which launched an equity crowdfunding campaign in October 2017 that would go on to raise more than $800,000 to expand operations at its downtown location.
Currently located at 455 S. Pine St. in southwest Madera, plans call for relocating operations into a local “Opportunity Zone” that will provide investment incentives including elimination or deferment of federal capital gains taxes.
“Craft beer drinkers have an insatiable thirst for quality craft beer,” said Michael Tate, president of Three Monkeys Brewing, in a statement. “Yet there is a shortage of truly premium craft beer on the shelves of liquor, small-format and big box stores. With this new tax law and the opportunity zones that have popped up, we’re confident we’ll find a savvy investor who wants to be a part of this growing and global brand face.”
Established in 2013, Three Monkeys Brewing sells its beer at more than 180 locations in California, including BevMo, Costco, Raley’s and Save Mart. It recently began exporting to Australia and has its sights set on sales to Asia, according to the news release.
With the planned expansion, Three Monkeys Brewing hopes to produce 12,000 barrels annually. It brews three “core premium” craft beers and eight “seasonally rotated” craft beers. Its Tres Vaqueros Amber Ale and Brown Barrel Ale have previously won awards.
Interested investors are encouraged to contact Tate at firstname.lastname@example.org for more information.