so apparently a group boycotted them? wow.
The covid part of the story is racy but not really anything to do with their business woes. Plenty of businesses took the same position and didn’t collapse.
It’s clear from the rest of the story that this is another business that didn’t plan well, stumbled into success and made no real effort to try to professionalize the business to make it functional and sustainable.
I would be surprised if they can’t find a buyer for the business unless the financials are completely toxic.
No not really.
Running a successful business is very hard work. It’s not for everyone. Perhaps others can pick up the pieces. Not I, said the walrus.
Hopefully he can locate a buyer for the land and business. I have heard only good things about his malts.
I feel the same; they’re only asking $5.5 million (of course I haven’t seen the financials).
It’s odd to me that it’s listed on Zillow, as if it’s just a sale of property and fixtures. I would have expected it to be with a business broker and priced as a function of cap rate on some pro forma NOI.
I’d definitely grab it if I was one of the bigger players out there like Deschutes. If this was 5 years ago AB inbev would be all over it.
Oh man, I love so many of their malts. I’ll be so bummed if they don’t continue in some form.
Me too, but I wonder if they would be the same if someone else is running the show.
I was thinking the same thing about it being on Zillow, but I read the article posted and the sale is for the house and part of the land the malt is on. They have a ton more land that I guess the family runs that their dad doesn’t want to give up. So, I guess that makes a bit more sense as to why it’s on Zillow. I wish I knew more and had an extra 5 mil hanging around. LOL.
Minor nit…the barley is on the land, not the malt. I’ve done the same thing more times than I can count. The sale also includes the malt house.
Sorry to see them go. The craft maltster movement has been one of the best things to happen to this hobby in recent years, and I’ve heard nothing but great things about their malt. Hopefully we see other maltsters emerge/expand to fill the gap that this will leave in the market.
It doesn’t really make sense. The property isn’t just real estate or even just a farm. It’s property with commercial operations and potentially an ongoing business interest. It would make way more sense to have a business broker obtaining a proper appraisal and shop it to potential buyers who understand the value of the entirety. This is the same thing as running the malting business without a salesforce. Some rando realtor in the area is not the right agent to sell that kind of asset.
It was a conscious decision to list on Zillow. The building may be used for a warehouse or dog food manufacturing.