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Saturday, Sep 23, 2023

Fireman Brews Up Private Offering

Fireman’s Brew Inc. announced on Tuesday a private offering for accredited California investors. The Canoga Park craft brewery is offering 1 million shares of common stock at $1 per share, with a minimum purchase of 5,000 shares. The offering will close on Nov. 7. Fireman’s Brew, founded in 2005 by two local firefighters, has been conducting private stock offerings to raise capital for expansion periodically since 2007. To date, the company has raised just more than $2 million in capital from previous offerings. Chief Operating Officer David Johnson told the Business Journal in March that the company has been profitable at times, with most of the income redirected into the business for expansion. “That’s always our goal is we’re always looking for opportunities to expand our profit, but also we have to be able to invest in our growth,” he said. “A lot of people think it’s a very saturated market, but at the same time, there’s so much room for growth.” The company now sells beer through 21 distributors in 14 states with plans to continue expanding nationally.

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