Today, we announced our land purchase in Roanoke, VA, is nearing completion, and we are moving forward on plans for breaking ground on a new beer production facility.
Here’s what our CEO, Michael LaLonde, wanted to share:
“To demonstrate our commitment to the project and to the city of Roanoke, Deschutes will purchase the property at this time in cash to ensure we can build and sustain a viable, healthy business long term in our new east coast home. It’s no secret that the craft brewing industry is going through a period of market adjustment. In carefully and thoughtfully considering these market conditions, Deschutes must act with adjustments of our own with regard to the scale and timing of our investments.”
“Our goals in Roanoke have always been to help build a burgeoning craft beer industry in the southeast and to contribute to the community through non-profit support and job creation. For these goals to be achieved and for us to remain a strong leader in the craft beer industry for many decades to come, the markets dictate that we monitor and analyze consumer activities closely over the next year and adjust our plan of approach to the launch of our new facility accordingly. We want to open our east coast doors knowing we’ll be a strong, lasting asset to the regional economy in the same way we have in Bend, OR, for the past 30 years.”
So, our plans for Roanoke haven’t changed with the exception of this purchase deal. The purchase gives us the flexibility in our timeline. Have questions? Feel free to leave a comment.