Monday, August 17, 2015

Harrison, Vickers & Waterman, Inc. (HVCW) Building Presence in Craft Beer Industry through Joint Venture Agreement

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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