Hampton’s Smuttynose Brewery Set to Go Up for Auction
A press release posted on Smuttynose Brewing Company's website says they are seeking an immediate buyer. If a buyer is not found, the company will go up for auction in March.
New Hampshire's largest and bestselling producer of craft beer needs a new owner or partner. Owner Peter Egelston says, 'the company’s financial models were based on 20 years of consistent growth but the explosion of microbreweries has led to changing dynamics in the marketplace.'
If a buyer does not come forward, the company, which was founded in 1994, is scheduled to be sold at bank auction March 9th. The sale will include the Smuttynose brand, the Towle Farm location in Hampton and Hayseed Restaurant.
The brewery, which is among the largest in New England can produce 75,000 barrels a year. But, in the last year it has been running at 50% capacity.