Oregon Coast’s Newport Brewing Company is For Sale
Newport Brewing Company on the Oregon coast is looking for a buyer to take on the brand, restaurant, property and wholesale contracts for the nearly 2-year-old business for $6.5 million dollars. The space with a view of the Newport Bay and Yaquina bridge is prime, and the business is successful according to owner Brodie Becksted: “Things have actually been great. We have two distributors and growing very nicely. In approximately 200 locations in Oregon right now and growing.”
Becksted is a lifelong Newport, OR resident and has been a licensed real estate developer for almost 20 years. He grew up drinking the more famous local breweries beer, Rogue Ales, but thought that the town needed another option so he purchased and sat on the land for Newport Brewing Company as he acquired more space for parking and funding for development. When Newport Brewing launched in 2019, it was one of the most anticipated openings of the year, with a fleshed out modern brand and packaging designs, as well as an award-winning brewer named Sam Zermeño from Black Market Brewing of Temecula, CA at the helm.
It wasn’t long before Newport Brewing Co. was up and running in a newly constructed 5,000 sq. ft. building on a 23,522 sq. ft. lot with 21 parking spaces, and an indoor capacity of 100 people on-premise. The interior features a slick modern industrial vibe with nautical touches and nods to the sealife and Lebowski culture that permeates Newport. The kitchen called “The Anchor” serves pub food like wings, nachos and burgers, along with tacos and seafood. The bar features 20 taps and a full liquor selection, every table has it’s own LED television.
Newport Brewing makes a variety of traditional styles from clean and clear to Hazy IPA’s, Lagers, Stout and Gose from a custom built 15 barrel brewhouse from Portland Kettle Works. Any sale of the business will come with all equipment, which includes 5 x 30 bbl fermenters, 2 x 15 bbl fermenters and 2 x 30 bbl lagering tanks.
As the brewery was kicking into gear with mobile canning runs and distribution agreements with Bigfoot Beverage and Winewarfare their brewer Sam Zermeno left to join the team at Great Notion Brewing in Portland. Becksted took over brewing duties himself in January of 2020 and has been grappling with the pandemic and juggling a growing business ever since.
“I also own a Real Estate company and have been doing both and it’s been a really hard time getting great employees and brewers with the pandemic. We will keep pushing through either way. This won’t effect our distribution or in house sales,” says Becksted.
The decision to put the brewery up for sale did not come lightly, and it’s clear that he doesn’t relish the thought as he only plans to have it listed for two months to see what kind of offers he finds. At the same time, a partnership might be an even more appealing opportunity to both parties.
Newport Brewing Company owner Brodie Becksted
“I don't want to get out of this business,” says Becksted. “I grew the brand from nothing, and I know it has a great future ahead. This is my first time in this type of business and would love partnering with a person or group that has some great expertise.”
Becksted reports the Real estate appraisal for the site is $2.1 million, the equipment he values at another $1.4m and the business at $2.5-$3m with a self projected growth of 10% year to year over the next 10 years.
“We would entertain a 49% buy in for approximately $3 million that would include 49% of all the real estate, equipment, business, etc. The property, equipment and business would be free and clear of any liens and or encumbrances,” says Becksted on the prospect of a new partner as an alternative option.
To find Newport Brewing Company take Highway 101 to SW Hurbert Street to 1118 SW Canyon Way Drive, Newport, OR 97365. Interested parties can contact Brodie Becksted at brodie@newportbrewingcompany.com.