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Aw geez. Another noble Seattle name goes into the toilet. Redhook Brewery, the brand launched by Paul Shipman and Gordon Bowker more than 25 years ago, will become part of a corporate entity called Craft Brewers Alliance after it takes over Portland-based Widmer Brothers for a reported $50 million.
Names are terribly important, as Bowker would tell you himself, were he not the most modest of men. It was Bowker, a Ballard native, who co-founded and named Starbucks. It was Bowker, the journalist for the original Seattle Magazine, who helped David Brewster launch Seattle Weekly. And it was Bowker, along with Chateau Ste. Michelle marketing manager Paul Shipman, who co-founded and named Redhook.
(Remember that old Rainier Beer commercial, with the motorcycle shifting? Raaay-Neeeeeer-Beeer. It's on YouTube, if you haven't seen it. That was Bowker, too.)
Oh, sure, there was some grumbling when Anheuser-Busch bought a one-third interest in the company some years back, but that was done to get into Budweiser's national distribution system. And they'll keep the brand names like Redhook ESB and Widmer Hefeweizen that the founders worked so hard to establish, along with the stock-exchange symbol HOOK. For now. But a quarter-century after that first, banana-flavored "Belgian" brew flowed from the tap in a converted machine shop on Leary Way, it seems that yet another northwest icon has been lured down the slippery slope of commercial success. More power to them all, big payday, bravo, I guess.
News happens to coincide with latest results from competitor Pyramid, taking a big hit from legal settlements but staging SnowCap Ale anniversary party this weekend (described elsewhere in these columns). And downtown Seattle's Pike Brewery, owned by Shipman's former Ste. Michelle colleague Charles Finkel and his wife, Roseanne, is going gangbusters. Cheers to you, Finkels, for having the energy to reclaim the company you founded, and keeping your commitment to genuine craft beer.
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I wish them the best.
But, let's face it, Redhook let commercial success get to them long ago. They abandoned the Seattle market and the true "craft beer" business model that made them so successful. When a company their size seems to struggle with tap handle space in Seattle pubs vs. the likes of Manny's and Mac & Jack's, you've forgotten your roots. They haven't come out with a new, interesting beer in some time. They closed down the Trolleyman Pub in Fremont a few years back. I'll drink Redhook if there is nothing better around. But, that is pretty rare out in the NW. Bring back the Double Black Stout and then you'll have me back. They will open up another brewpub in the city sometime if they are smart.
Please get your facts straight...
As pointed out here:
http://portland.bizjournals.com/portland/stories/2007/11/12/daily12.html?surround=lfn
and
http://seattlepi.nwsource.com/business/339489_beer14.html
Each will have a 50% stake in the company. According to the Seattle P-I, Redhook did have to swap $50 million for shares of privately held widmer. However, you cannot justify that Redhook bought Widmer in this instance... Redhook is publically traded while Widmer was not. Debt and other factors may make one company more valuable than another.
Also, Redhook is the 12th largest while Widmer is the 11th. Other facts if you'd like them as to why you are flat wrong is that the headquarters will be in Portland, the "real" chairman will be a Widmer, and Seattle proves once again that it looks its nose down upon their southern neighbors.