Brewery X wins auction bid to purchase Modern Times for $20 million

Lol who?

 

BX > MT

 

gross

 

We all know Bruery bought them out.

 

https://www.brewbound.com/news/mode...-court-hearing-set-for-monday-to-approve-sale

 

thats funny.

 

Wow, the bidding got up to $20 million, which is a fraction of what Jacob had valued the company at when he sold "shares" to the public but a big jump from the $8m Maui had bid.

I've never heard of Brewery X, but the Union Tribune says they make hundreds of flavors of seltzer and beer and are sold in Anaheim and Aspen, Colo.

 

Should I know this place?

 

Whenever I see Brewery X in print I think “Brewery Unknown.” Someone help us out here!

 

inb4 Brewery X dissolves the brand and they turn Leisuretown into another frat boy shithole. This was basically a worst case scenario for the brand, folks. RIP Moden Times.

 

Brewery X's massive taproom is usually PACKED. It's quite a sight to see. Beers on the other hand...

 

500+ people there on Saturday nights easily. Beer is ass, but it’s a great place to get into a fist fight over who’s truck nuts are bigger.

In all seriousness I gotta say I’ve been thoroughly amazed at how well they’ve done since they opened. People really love that place and come in droves. Never saw it coming, that’s for sure. Their success seems weird for an independent brewery… I have this conspiracy in my head that big beer is somehow involved in that place but I’ve never seen any proof of that being the case.

 

One of many reasons why such fundraising should be limited to accredited investors.

 

I feel the exact same way. Been there twice and both times it was packed to the gills, but I couldn't understand why. The beer is just fine at best.

 

Yeah from what I've heard about Brewery X they seem like the exact opposite of what Modern Times has come to represent.

 

I thought you were making a joke because it’s called brewery X. Like brewery “x” bought modern times. Yeah I know a brewery bought it but what’s it called.

depends on where you live. In Southern California you would know of them. Not sure how far their reach extends outside Orange County and surrounding areas.

 

Brewery X is sold at Trader Joes. Shows that they're doing someshit right. I almost prefer a frat boy crowd to the fart sniffing hipster crowd that would be at Dankness Dojo. I can have a conversation with. " frat boy" crowd but hipsters...fuckin kill me please. If i see one more felt hat pointy boot wearing person taking about hops and shit at a bar!

 

Modern Times beer of all sorts was available at Trader Joe's locations for a long time. How dare those hipsters discuss the ingredients in the beer they're drinking. What nerve.

 

I didn't realize people still had such strong opinions on hipsters.

 

Surprise, surprise, surprise.
Brewery X did a surprise move and outbidded Maui. I didn’t even know Brewery X was involved in the bid war for MT.
https://www.goodbeerhunting.com/sightlines/2022/6/17/brewery-x-set-to-acquire-modern-times
I’ve been to Brewery X twice. Maybe 3 times soon after they opened their taproom in 2019. I’d stop in after visiting Bottle Logic back in the day just to check them out. The newest big boys in town. Brewery X was first mentioned here on a thread someone started up. Trevor, the head brewer came from RiiP way back when RiiP first started up in HB. When the Ryan’s bro had growlers delivery service in HB & FV. I don’t know the whole story on what happened between Trevor & the Ryan bros, but they had a falling out and Trevor left to pursue his own career and ended up a few years later at Brewery X. I mean this place, BrewX is huge. Maybe as big as Revision up in Sparks, NV. It’s a nice place and has lots of outdoor space for a tasting room. Stage set up for bands to play. There was no seltzers at the beginning. But I soon saw seltzers showing up at Total Wine. I haven’t been back since 2019 and when the pandemic hit there was no reason to go back. But I see their cans everywhere these days. And like many average breweries they have a ton of hard seltzers to show for it. Not for me. For those who go to Bottle Logic/Windsor, BrewX is down La Palma. You can’t miss it. Maybe a 5 minute walk from BL. Not sure what their plans are for MT. Maybe turn the MT beers into more seltzers?

 

BrewX is definitely different from MT. But I’m sure that’s going to change.

 

I thought the beers were okay to good. Nothing special at the time. But the tasting room was spot on. Nice huge outdoor space. Went 2 or 3 times before the pandemic. No reason to go back. This facility reminds me of Revision in Sparks. But Revision is IPA strong. Not seltzers.

 

Damn, brewery x has some big money behind them (don't know why they didn't spend some of it on a marketing firm to come up with an actual name).

The most interesting thing in that article, though, was this

TRU COLORS is the brewery that is entirely staffed by gang members, based out of N Carolina. They seem like a weird one to be in the mix bidding. I wonder if they're looking at spreading their model to the west coast? That would have been quite the 180 in terms of staff at modern times

 

So,

Brewery X $20M Bid = $16M for senior secured debt, up to $4M for additional loans (non secured debt, PPE Loans, unpaid vendors) and little to $0M for the 30% ESOP "owners"?

And Jacob McKean, who resigned in disgrace after their toxic work environment was exposed, keeps the cash swapped for debt dumped on employees. Absolutely horrible outcome, though par for the course in this country.

https://www.sandiegouniontribune.co...-17/modern-times-brewery-on-the-auction-block

 

See how dumb it is?

A lot of hate on "frat boys" at Brewery X and no one bats a damned eyelash but i mention hipsters and OH NOoo!!

 

Must be the HUGE parking lot

Im serious tho, that shit is massive

 

You went on rants about hipsters in multiple threads yesterday.

 

I think it was 3, but isn't that a thing?

I known1 hipster that moved into my hood and he's nice. We both make gun of them together.
By hipster i mean either felt hat and pointy boot or looks like a Pipeline worker but only tool he has is housewife Ryobi drill set at home to hang Screenprinted virtue signaling art.

It's mostly me being an asshole. I am beginning to think this website is a "safe space" cuz man oh man people can't deal with my insensitivity sometimes even though im a nice person

I hate all people equally .

 

Brewery X being a bunch of Thin Blue Line losers is way more worrying than some dorks in fedoras.

 

I’ve never seen so many Blue Line flags as I saw In Their parking lot the one time I went

 

I’ve never been to a brewery x but thin blue lines and American flags. I am in.

 

This is exactly what happened to us with our company back in early 2000. And I mentioned this here when MT was employee owned. I said what happens to the employees stock if they ever went under? MT said they will be honered with their shares. Yeah right. Never ever trust BIG CORP! Never. I got screwed over 150g at the time.

 

Neither are all that worrisome.

 

This is about as bad of an outcome as possible for multiple reasons. Can’t think of a more 180 between 2 companies with modern times and brewery x. At the end of the day modern times did this to themselves which is a huge bummer.

 

Brewery X is the company that refused to follow pandemic mandates…

yeah, that’s a no for me.

 

https://www.brewbound.com/news/mode...court-hearing-set-for-monday-to-approve-sale/

 

Do they want the assets to expand their own production or are they buying Modern Times for the name because they realized how bad the name "Brewery X" is?

 

No official word, but all of the language around the sale has been that Modern Times is being sold as "a going concern".

And Brewery X doesn't seem to have any idea how bad their name is.

 

Cool, man.