Posted 3/5/2018 12:00 am
Updated 2 weeks ago
Core Brewing & Distillery Co. of Springdale will use the $300,000 in equity it recently raised to expand.
“We’ve opened up a new pub in Hot Springs. We’ve got a new pub opening on South Main” in Little Rock that should be open around the middle of the month, said Jesse Core, the founder and CEO of Core Brewing. “And we’re improving our packaging line.”
In addition to the new locations, Core Brewing also has pubs in Fayetteville, Rogers, Fort Smith, Bentonville, the Northwest Arkansas Regional Airport and North Little Rock.
The total offering amount was $1.5 million, according to the craft brewer’s filing with the U.S. Securities & Exchange Commission.
Core said, however, that he didn’t want to raise all the money at this time. “We wanted to make sure we had some additional room to raise money” in the third and fourth quarters for more expansion, he said.
Core Brewing’s recent New England IPA and bourbon barrel-aged beers have “really accelerated our sales,” Core said. He declined to release sales figures.
The company has 15 employees at its brewery and another 25-35 at its pubs.
Core Brewing started doing business in 2012 and is sold in Arkansas, Oklahoma and southern Missouri.