Chicago – November 6, 2014 – The Veteran Beer Company closed funds today from a private Chicago investment group. The terms of the deal also provide for an employee stock pool that will expand the number of Veteran shareholders in the year old company.
“We are both pleased and grateful that our investors have shown the confidence in us, and have stepped up with the financial backing that will help the Veteran Beer Company keep growing and moving forward,” said Paul Jenkins, the company’s President and CEO. “I am especially happy that they wholeheartedly share our vision for the company as a vehicle for Veteran employment.”
The Veteran Beer Company launched its first award-winning craft beers, The Veteran amber lager and the Blonde Bomber blonde ale, into the Illinois and Indiana markets in November 2013. Since then, the company has expanded into Minnesota, the Dakotas and Wisconsin. With the additional capital the company will complete their plan for distribution across the region by adding Michigan to the roster of states where The Veteran and Blonde Bomber are available.
While nearly everyone can get behind supporting Veterans not everyone’s tastes are limited to lagers and ales. So the company will use some of the funding to expand their selection of brews, “We want everyone who believes in our cause to be able to support us while enjoying the kind of beer they love to drink, to do that we need to expand the beers we offer,” Jenkins said.
Core to the company’s mission from the start has been Veteran employment; every current employee in the company is a Veteran. This agreement builds on that commitment by installing a new employee ownership plant where every full-time employee will earn the right to hold shares in the company.
“Veteran employee ownership has been our goal from day one,” said Jenkins. “Now those Veterans who have been with us for a year will begin earning shares as well, and that part of the agreement showed us all that our values were aligned with these investors from top to bottom.”
About Veteran Beer Company
Veteran Beer Company currently markets The Veteran lager and Blonde Bomber ale in Illinois, Indiana, Wisconsin, North Dakota, South Dakota, and Minnesota. The company is committed to improving Veteran employment. Many current employees are disabled Veterans, injured in the line of duty.
“We know what it’s like to get knocked down. More importantly, we know how to get back on our feet. We’re people of action. We are not waiting for someone else to solve the national crisis of Veteran unemployment. We are fixing it ourselves,” said Jenkins.
The Veteran Beer Company is a Benefits Corporation, a B-Corp. As a Benefits Corporation, the company has to put its social mission of hiring Veterans above company profits. In addition, 10 percent of all earnings is donated directly to local Veteran charities and support groups. The Veteran Beer Company’s Benefits Director is a permanent member of the board of directors who works independently to ensure the company is staying true to its social mission. www.veteranbeercompany.com