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

Discussion in 'US - West' started by antsmarching777, Jun 18, 2022.

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  1. antsmarching777

    antsmarching777 Apr 14, 2009 California

    Spoke with a friend that works for MT. Appears they were purchased by Brewery X.

    Condolences to the staff and fans.
     
  2. tyrsis

    tyrsis Mar 13, 2009 California
    Trader

    Lol who?
     
  3. dcgunman

    dcgunman Jul 1, 2009 California
    Society Trader

    BX > MT
     
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  4. Brent212

    Brent212 Jan 13, 2014 California
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  5. AyeDogg

    AyeDogg Oct 29, 2015 California
    Trader

    We all know Bruery bought them out.
     
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  6. drewone

    drewone Sep 18, 2006 California
    Society Trader

    ChicagoJ likes this.
  7. GetMeAnIPA

    GetMeAnIPA Mar 28, 2009 California

    thats funny.
     
  8. riko

    riko Jan 18, 2008 California
    Trader

    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.
     
  9. tyrsis

    tyrsis Mar 13, 2009 California
    Trader

    Should I know this place?
     
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  10. elNopalero

    elNopalero Oct 14, 2009 California
    Society Trader

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

    BreakingMyBalls Apr 27, 2017 California
    Trader

    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.
     
  12. onetoomany

    onetoomany Apr 21, 2015 California

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

    BreakingMyBalls Apr 27, 2017 California
    Trader

    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.
     
  14. HopHead84

    HopHead84 Nov 29, 2006 California
    Society Trader

    One of many reasons why such fundraising should be limited to accredited investors.
     
  15. AlmostDeadly777

    AlmostDeadly777 Apr 29, 2018 California
    Trader

    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.
     
  16. skelliott

    skelliott Jul 2, 2013 California

    Yeah from what I've heard about Brewery X they seem like the exact opposite of what Modern Times has come to represent.
     
    #16 skelliott, Jun 18, 2022
    Last edited: Jun 18, 2022
  17. GetMeAnIPA

    GetMeAnIPA Mar 28, 2009 California

    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.
     
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  18. Resistance88

    Resistance88 Apr 9, 2015 California
    Trader

    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!
     
  19. MattF

    MattF Sep 14, 2013 California

    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.
     
  20. annakarina

    annakarina Jul 29, 2016 California

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

    dcgunman Jul 1, 2009 California
    Society Trader

    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?
     
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  22. dcgunman

    dcgunman Jul 1, 2009 California
    Society Trader

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

    dcgunman Jul 1, 2009 California
    Society Trader

    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.
     
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  24. unlikelyspiderperson

    unlikelyspiderperson Mar 12, 2013 California
    Society Trader

    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
     
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  25. ChicagoJ

    ChicagoJ Feb 2, 2015 Illinois
    Society

    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

     
    #25 ChicagoJ, Jun 18, 2022
    Last edited: Jun 18, 2022
  26. Resistance88

    Resistance88 Apr 9, 2015 California
    Trader

    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!!
     
  27. Resistance88

    Resistance88 Apr 9, 2015 California
    Trader

    Must be the HUGE parking lot:joy:

    Im serious tho, that shit is massive
     
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  28. annakarina

    annakarina Jul 29, 2016 California

    You went on rants about hipsters in multiple threads yesterday.
     
  29. Resistance88

    Resistance88 Apr 9, 2015 California
    Trader

    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 .
     
  30. annakarina

    annakarina Jul 29, 2016 California

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

    gregoryG Sep 8, 2009 California
    Trader

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

    GetMeAnIPA Mar 28, 2009 California

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

    dcgunman Jul 1, 2009 California
    Society Trader

    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.
     
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  34. SanDiegoJoe2011

    SanDiegoJoe2011 Nov 30, 2014 California

    Neither are all that worrisome.
     
  35. jrm303130

    jrm303130 Jan 26, 2016 California

    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.
     
  36. fegelFatso

    fegelFatso Jun 23, 2013 California

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

    yeah, that’s a no for me.
     
  37. HouseofWortship

    HouseofWortship May 3, 2016 Illinois
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  38. unlikelyspiderperson

    unlikelyspiderperson Mar 12, 2013 California
    Society Trader

    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.
     
  39. annakarina

    annakarina Jul 29, 2016 California

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