Maui Brewing acquires Modern Times Beer. Announces formation of a new parent company.
As previously reported, Maui Brewing Company recently acquired Modern Time Beer (Modern Times Drinks, Inc.), buying the San Diego based company out of receivership for $15.3 million. It was a somewhat bumpy road, but the deal is now done. I should say, it will officially be done in late October. A press release on August 23rd explained the structure of the resulting enterprise.
Craft ‘Ohana is more than two beer companies. It will include both beer brands, Modern Times’ coffee brand, Maui Hard Seltzer, Kupu Spirits, and Island Soda.
Garrett Marrero, Maui Brewing’s CEO and Cofounder, explained the thought process in a press release. “As we combine these two well-respected and innovative breweries, we recognize that it is not our ambition to have two separate entities owned by a common parent company, but rather two brands operating as one company with operations in multiple states.”
“With Craft ‘Ohana, we pay homage to our Hawai’i roots while signaling our stewardship and dedication to the craft beverage movement that has become a staple across bars, restaurants, and retailers throughout America over the last 35-plus years.”
The combining of the Maui and Modern Times also resulted in some personnel juggling at the top levels. For instance, Modern Times CEO Jennifer Briggs will now serve in a newly created role as Chief Experience Officer, overseeing human resources, cultural development, DE&I, marketing, brand development, direct-to-consumer, and hospitality operations.
“Mahalo to our teammates both past and present. I could not be prouder of all we’ve accomplished as a team over the last 18 years,” said Marrero. “We’re thrilled to welcome our new teammates from Modern Times into the ‘Ohana. In bringing together Maui and Modern Times under Craft ‘Ohana, we are committed to continuing to lead in innovation, sustainability, quality and furthering our support of the communities we serve.”
According to production numbers reported by the Brewers Association, among U.S. craft brewers Maui Brewing ranked 43rd largest in 2021. Modern Times ranked 48th largest. Based on the 2021 numbers, the combined entity would rank 24th.