(Woodland Hills, CA) – Fireman’s Brew announced a $5 million private offering last month for California investors.
Fireman’s Brew COO, David Johnson, is bound to SEC regulations and unable to discuss any potential expansion plans in detail though he was able to share a couple details with BeerPulse this week.
$5 million is the maximum allowed under the offering structure though the company has “already secured other sources of debt financing through our banking relationships,” according to Johnson.
Johnson says that the company is planning to become a “national” brand. And what might national mean?
Judging by some of the expenditures by craft brewers reported over the past year, $5 million (or rather, north of $5 million) would mean that the company is looking at bringing production up over 100,000 barrels annually in the future.
That is a lofty goal for a brand that will produce just shy of 3,000 barrels this year. Fireman’s Brew is currently produced by Mendocino Brewing Co. through an automatically-renewing annual contract.
The company has already expanded distribution to a few new states including Illinois, Colorado and Arizona.