We had a number of options, but we ultimately decided as a shareholder group that we would pursue the employee-owned business model. It’s a hot time in craft beer so we definitely had some private equity people, outside investors, and strategic buyers who had approached us about buying the business. Eventbrite - Harpoon Brewery presents HarpoonFest - at Harpoon Brewery, Boston, MA. About a year ago we started talking more earnestly about what we wanted to do with the company and Rich expressed some desire for more liquidity and to start pursuing other things.
“Every successful private business faces this question. “Rich and I knew that we’d have to address this problem at some point,” Kenary says. Just great Harpoon beer, entertainment, and maybe just a little bit of Taylor Swift. Doyle, along with five other key investors, sold most of their shares in Harpoon and transferred them into an Employee Stock Ownership Plan (ESOP), equaling 48-percent of the company. Last year’s Sonic Frontiers brought Sega’s mascot some much-needed success in the 3D gaming realm, but outside of some segments in the 3D adventures and the externally developed Sonic Mania, the 2D side of the Sonic franchise has been grossly underserviced in recent years. Cofounder Rich Doyle has decided to step down as CEO, becoming a part-time employee focusing on sales and new business development, while his partner Dan Kenary takes over his former position. Join us on May 19th & 20th to celebrate the 30th Anniversary of Harpoon IPA with us at HarpoonFest About this Event.
The Harpoon Brewery, the twelfth largest craft brewery in the country, will become an employee-owned company starting on August 1.
Harpoon’s employees celebrating inside their Boston brewery.
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