Stone Brewing Co. Reports Strong Mid-Year Growth
Stone Brewing Co. continues to rock as revenue increased 30% and volume increased 24% in the first half of 2009.
The company has just purchased a $6.2 million, 57,509 square ft. building to allow for further expansion of brewing and distribution operations. That’s a good thing, as the San Diego area brewery is on track to produce more than 100,000 barrels in 2009—more than a 20.5% increase over 2008.
In this down and funky economy, craft brewers are a bright spot. Stone Brewing Co. will soon be holding a job fair to fill up to 35 staff positions.
Why are craft brewers doing so well in these tough economic times? Because good beer is good value. And it makes good sense to buy from local, independent companies that are owned by real people.
“It makes sense that craft beer is growing during a time of recession,” says Greg Koch, CEO of and co-founder of Stone Brewing Co. “People are more focused on getting value for their money, and the character and quality of great craft beer represents a tremendous value for the dollar.”
Meanwhile, as reported here a few stories down, mainstream large brewers are flat or slightly down in growth while imports (mostly the light, yellow fizzy variety) are down 9%.
“At a time when many of the giant beer brands are declining, small and independent craft brewers are organically growing their share and slowly gaining shelf and restaurant menu space one glass of craft beer at a time,” commented Paul Gatza, Director of the Brewers Association.