Top RI Beer Company, Foolproof Brewing, Looking to Sell
Wednesday, December 11, 2019
No one has been a better poster boy for Rhode Island’s craft beer industry than Nick Garrison of Foolproof Brewing Company.
On Tuesday, he took to Facebook and announced that his company was for sale.
“Hey everyone, some news to share with you all today. First off, don't worry – we're still brewing and selling delicious beer. These are complicated and difficult times for the beer industry, and it's time for a change for me and my family.,” wrote Garrison.
GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLAST“Thank you for all of your love and support over the years, and most importantly, thanks to my team – the greatest group of individuals I've ever had the pleasure of working with. It's been an honor and a privilege to get to share my passion with each and every one of you, and I look forward to seeing what lies ahead for Foolproof. All the best, Nick,” he added.
Garrison has been a regular guest on GoLocal LIVE and looked to have a strong expansion strategy in New England and in the mid-Atlantic.
In February of 2018, Garrison joined GoLocal to discussed the company's distribution expansion in New Jersey and Virginia.
A Washington Post story in 2018 outlined the difficulties for craft beer brewers, “A new report by the Brewers Association — a trade association representing small and independent American craft brewers — showed that craft brewers saw a 5 percent rise in production volume in 2017. Yet with that growth comes an increasingly crowded playing field, leading to more closures of small craft breweries. In 2017, there were nearly 1,000 new brewery openings nationwide and 165 closures — a closing rate of 2.6 percent. That’s a 42 percent jump from 2016, when 116 craft breweries closed.”
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