Over the last couple of months we have been tight on production, and we have watched warehouse inventories, including ours and those of our distributors, affected by a perfect storm of activity. The good news is we’ve watched sales in our existing markets continue well beyond the craft industry average, and thus we’ve had to continue expanding our facility to meet future needs. The not-so-good news is our production facility expansion—with our brew house extension, improvements made to our bottling line, the installation of a high-speed canning line and the addition of several 600 bbl fermenters, all taking longer than anticipated—has affected our ability to provide proper inventory quantities for all of our markets.
After several months of effort, we can now say the end is near, and we are wrapping up our production facility updates. However, during this process, we had to undergo downtimes, which led to inventory levels becoming significantly reduced. It’s important for us to maintain a focus on our core brands in our current markets; as such, we must make some difficult decisions.
In the best interest of our wholesaler partners, retail accounts and craft beer consumers, we will hold off opening planned new markets at this time, including Florida, which was scheduled for a July launch. We also will not be introducing the new package launch of All Day IPA in 12-pack cans next month. Please know that these difficult moves affect many parts of our business but should be done for both short- and long-term success. Until we have built up core brand inventories in all markets again and are comfortable in meeting existing demand, these opportunities must wait a bit longer.
We are confident this won’t take long and hope to be able to embark on these new projects as soon as possible. We appreciate your support and your patience with us as we grow.