At the end of its restructuring process, San Diego based Green Flash Brewing Co. announced former Anheuser-Busch executive Michael Taylor as its new CEO. Taylor brings in-depth expertise and a reputation as a strong leader in the beer and beverage industry, with extensive knowledge in finance, operations, and the commercial and production aspects of the business.
Prior to joining Green Flash, Taylor worked at Anheuser-Busch Companies where he served in various senior management positions during his 14-year tenure with the company. Most recently, he was vice president of non-alcohol, leading all commercial and business operations for the Hiball Energy and Alta Palla brands.
In addition to his involvement in the beer industry with Anheuser-Busch, Taylor has strong ties within the alcohol industry, recently serving as a board member of Craft Brew Alliance (inside.beer, 20.6.2018) and an advisory board member of the wine investment fund, Bacchus Capital Management.
Green Flash’s founder, Mike Hinkley, will continue to play an active role on the leadership team reporting to Taylor and serving on the company’s board of managers.
Earlier this year Green Flash ceased operations at a $20 million production facility in Virginia Beach, Virginia, shuttered its Cellar 3 barrel-aging facility and taproom in Poway, California and ended its national expansion strategy
Comerica Bank, Green Flash’s largest shareholder, foreclosed only a few days later, that it had sold its Green Flash and Alpine assets to a risk management company in Michigan named WCIPA .
“After a general slowdown in the craft beer industry, coupled with intense competition and a slowdown of our business, we could not service the debt that we took on to build the Virginia Beach brewery — and in early 2018, the Company defaulted on its loans with Comerica Bank. While we took substantial efforts to recapitalize the Company over the past several months, both before and after the bank default, we were ultimately unable to close a transaction,” said Hinkley.
“While the Green Flash and Alpine brands will continue, they will do so under new ownership — and GFBC and Alpine Beer Company, will be wound down and dissolved. I sincerely thank you for your support over the years,” Hinkley added in his memo to shareholders.
