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Moderntimes sold too

IngloriousBasterd

IngloriousBasterd

Well-Known Member
Joined
May 13, 2008
Messages
953
Location
Corona, CA
At least another craft brewery bought them but still I would have never guessed Brewery X buying them. Didn’t know Moderntimes was that deep in debt but in the deal Brewery X doesn’t acquire the debt. Sold for 20mil. Will be interesting to see the future of these 2 breweries. Having gone to brewery x many times I always knew they started that place with a good amount of money but I didn’t know the owners had this kind of money
www.sandiegouniontribune.com

For subscribers: Anaheim craft brewery makes winning bid of $20M to take over San Diego's Modern Times

The financially struggling San Diego brewer, saddled with mounting debt, was put up for sale today in an auction that drew 70 bids from three suitors over the course of three hours.
www.sandiegouniontribune.com www.sandiegouniontribune.com
 
Hmm, me neither. All I knew about Brewery X was that they were Anaheim based and had a footprint at the Honda Center (went there for a concert). I though MT was employee owned? At any rate, this move surprises me, more because I had no idea Brewery X would have the ability to make such an acquisition.
 
The Black Cloud said:
Hmm, me neither. All I knew about Brewery X was that they were Anaheim based and had a footprint at the Honda Center (went there for a concert). I though MT was employee owned? At any rate, this move surprises me, more because I had no idea Brewery X would have the ability to make such an acquisition.
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Yeah me either. The router I heard though is the owners come from Disney Money. Brewery X runs the brewery/restaurant at Angels Stadium too
 
IngloriousBasterd said:
Yeah that’s why it’s kinda nuts. They are a hyper local spot but very big. It’s a giant place and there’s always a ton of people there hanging out and drinking beers but they don’t distribute very far
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I just looked them up on Untappd, because I had never heard of them either. Their highest rated beer is a 4.10

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bfreebern said:
I just looked them up on Untappd, because I had never heard of them either. Their highest rated beer is a 4.10

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Yeah their beer has never been anything to write home about and they don’t do all those BA pastry stouts and mixed ferm saisons and stuff but the beer they do make is solid. I enjoy their stuff but when I see it for sale at a liquor store I never buy it. But it’s a fun place to go hang out and have beers and I like sitting in their brewery/restaurant at Angels stadium
 
Tiny place with no distribution, no ridiculous fanboi beers that have hours long lines on drop day, but enough cash to have a presence at two arenas and an airport, and buying out other breweries?

Yeah, sounds way more likely to be Disney money than small brewery money.
 
The Black Cloud said:
Wasn't surprised to see Brewery X back out. I thought Maui was part of a larger collective owned by AB-Inbev, but I may be confusing them with Kona.

At any rate, anything that strengthens a bond between HI and CA is a-okay in my book.
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Yeah I know Kona is part of a collective of a couple brewery’s that’s part owned by AB InBev. Not sure about Maui
 
The Black Cloud said:
I thought Maui was part of a larger collective owned by AB-Inbev, but I may be confusing them with Kona.
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A couple years back, some beer publication mistakenly said Maui was owned by Constellation (Corona, modello, ballast point). A few other places ran with it, and it seems like it's stuck. But they're independent.
 
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