Sierra Nevada Brewing
The craft beer business continues to grow while mainline breweries stumble along. Sure, the Budweisers of the world produce way more volume than craft brewers do, but they’re not nearly as interesting. The second-largest craft brewer in America by volume, Sierra Nevada Brewing is based in Chico, Calif..
Founded by Ken Grossman in 1980, the company is in the process of opening a new brewery in North Carolina to handle its increasing popularity. In 2012, Sierra Nevada shipped 966,000 barrels, a 12.6% year-over-year improvement and its best result in over a decade.
A telltale sign craft beer is gaining ground — Costco (COST) generates 30% of its beer sales from craft brewers like Sierra Nevada. Everywhere you look there’s a new statistic about craft beer booming. While Boston Beer (SAM) is by far the largest craft brewer at 2.1 million barrels, Sierra Nevada is charging forward.
As of this writing, Will Ashworth did not own a position in any of the aforementioned securities.