Bronx Brewery Announces Expansion Plans and Partnership with Tenth Avenue Holdings
Apr 20, 2015, 12:16 ET
NEW YORK, April 20, 2015 /PRNewswire/ -- The Bronx Brewery, a South Bronx-based brewery founded in 2011, announced today plans to increase production and expand geographically in the United States and United Kingdom. The company also announced a strategic partnership with privately held holding company Tenth Avenue Holdings, which will provide guidance and funding to help grow the business.
The Bronx Brewery opened a facility in August 2014 in a former ironworks factory in the Port Morris neighborhood and produced roughly 6,000 barrels in 2014. In response to growing demand, the company expects to produce 10,000 barrels in 2015.
"Our customers and our fans in the local Bronx community have been extremely supportive as we've built our business and opened our 136th Street brewery," said Chris Gallant, Co-Founder of The Bronx Brewery. "We look forward to continuing to create high-quality pale ales and to expand into new markets."
Gallant described The Bronx Brewery's partnership with Tenth Avenue Holdings as a "collaborative effort, focused on a long-term view of our industry, our borough and our business."
The latest addition of capital will allow him to hire additional employees in the Bronx, including two new brewers, and to purchase additional brewing equipment to help ramp up production. The Bronx Brewery will also increase distribution in order to access markets outside of New York City, where most of the brewery's current sales come from, he said.
"The partnership between Bronx Brewery and Tenth Avenue Holdings exemplifies the kind of collaboration with smart, enterprising and entrepreneurial people that is our focus," said Laurence Denihan, a Managing Director and co-CEO at Tenth Avenue Holdings. "Bronx Brewery has taken an inspired idea and turned it into a resoundingly successful business model with a very bright future."
The brewery currently features a tasting room where guests can sample flights and pints of pale ales, take a tour and grab beer to go. The venue is also popular for hosting sporting and fundraising events and has a large backyard beer garden, which is reopening on May 2 for the season.
About Bronx Brewery
Founded in 2011, Bronx Brewery is a small craft brewery based in New York City's South Bronx. The company's mission is to craft the best pale ales on the east coast. For more information, please visit www.thebronxbrewery.com.
About Tenth Avenue Holdings
Tenth Avenue Holdings (TAH) is a private, diversified investment holding company based in New York City with permanent equity capital in excess of $500 million. TAH is able to structure customized deals and opportunistically invests in public and private companies as well as real estate across a broad range of industries in the continental US. The firm was founded in 2009, upholds strict ethical standards and professional integrity, and is a strategic partner to its portfolio companies and management teams. It has a distinctive approach to owning and capitalizing businesses and entrepreneurs with a focus on long term growth, ongoing cash flow and capital appreciation. For more information, please visit www.tenave.com.
SOURCE Bronx Brewery