Harrison, Vickers & Waterman, Inc., following its April
acquisition of Attitude Beer Holdings Co., recently shifted its business focus
toward the rapidly expanding craft beer industry. The company’s new subsidiary
specializes in the development of World of Beer franchised locations in the
state of Connecticut, as well as the Greater Boston area. Together with New
England World of Beer LLC, which currently holds franchise rights for the
company’s target region, HVCW is utilizing an aggressive growth strategy in
order to maximize its market presence. In addition to its 4,000 square foot
tavern in West Hartford, Connecticut – which was opened in January – the
company has announced plans for a pair of new World of Beer locations in
Milford, Connecticut, and Greater Boston that are currently scheduled to begin
construction in the coming months.
“These new locations for World of Beer taverns in Boston and
Milford demonstrate our ongoing progress and the actions being taken to
implement our joint venture with New England World of Beer,” Roy Warren, chief
executive officer of HVCW, stated in a news release. “Our West Hartford
location has proven to us that the enlarged tavern fare, along with the unique
experience and wide variety of craft beer and other beverages, has a dominant
place in this industry and is delivering sales and earnings beyond our
expectations.”
When completed, HVCW will assume a 51 percent interest in
the new World of Beer locations, while the company’s joint venture partner, New
England World of Beer, will retain a 49 percent interest. Moving forward, this
arrangement is expected to provide an opportunity to achieve considerable
financial growth as the craft beer industry continues to expand.
According to the Brewers Association, the domestic craft
beer industry – led by the performance of major market players such as Boston
Beer (NYSE: SAM) and Craft Brew Alliance (NASDAQ: BREW) – has averaged annual
growth of 10.9 percent over the last decade. In 2014, the industry accounted
for approximately $19.6 billion in revenues, representing nearly 20 percent of
the country’s total beer market.
For HVCW, this strong market performance could provide an
excellent platform upon which to promote sustainable returns in the years to
come. Look for the company to continue capitalizing on the expanding industry
recognition of the World of Beer brand in order to stimulate continued market
growth for the foreseeable future.
For more information, visit www.hvandw.com
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