- Lord Hobo Brewing Company and Lone Pine Brewing Company announced today that they are merging the two breweries together under a single ownership that will provide significant resources and investment in brand-building, quality, and innovation.
- The focus of the merger is on growing craft brands by investing in consumer marketing and developing brands across categories. The merger provides the opportunity for growth across their core geographies of Maine and Massachusetts and is the first step in creating a larger-scale beverage company.
PRESS RELEASE / November 7, 2024 (Woburn MA and Portland ME) – Lone Pine Brewing, the fastest growing craft brewery in Maine and Lord Hobo Brewing, the iconic Boston-based craft brewery, today announced that they have signed definitive agreements to merge the two breweries under one ownership structure. No details of the transaction will be disclosed. The merger is expected to be finalized in Q4 2024 subject to regulatory approval and will provide a platform for both breweries to invest in brand-building, quality and innovation across Maine and Massachusetts, while nurturing their unique independent identities.
Lone Pine Brewing, founded by Tom Madden and John Paul in Portland, ME is well-recognized as a young craft brewery in the Northeast and one of the largest in Maine. Their flagship brand, Oh-J Double IPA and the recently launched Lone Pine American Craft Vodka have achieved outstanding success. The combined company will continue to own the Lone Pine brewery in Gorham and will invest further in developing their retail locations in Portland, Westbrook, and Old Orchard Beach.
Lord Hobo has undergone a transformation in the last three years, marked by new management, fresh shareholder investment, and a streamlined portfolio focused on its highly acclaimed beers including Boomsauce, 617, Vagabond and Life NA. Lord Hobo has a strong and influential reputation in Massachusetts. The Woburn taproom, situated at the brewing headquarters, accommodates over 400 guests, with an additional location in Boston’s Seaport district that makes it an ideal destination in a growing downtown neighborhood. By joining forces with Tom, John, and the rest of the Lone Pine team, Lord Hobo is embarking on an exciting journey that enhances its brewing expertise and deepens the market presence for both brands.
Tom Madden and John Paul, the Founders of Lone Pine said: “We see this merger as an important next step for Lone Pine as we aim to continue a trajectory of strong growth both in Maine and New England. We are excited to create an organization that will have at its core a wide range of joyful, energizing, and innovative brands, and which celebrates the local independence of each brewery in a supportive framework focused on leveraging personnel and technology to enforce the highest quality standard, which is often challenging during periods of growth. Lord Hobo has been totally transformed in the last three years and together we have crafted a truly compelling vision for our future. In joining the Board of the new ownership structure, we are excited to build a combined organization that is growth focused and prioritizes quality, community, and creative innovation.
Simon Thorpe, CEO of Lord Hobo said: “The merger of our two breweries creates a platform for craft brand growth, focused on marketing brands that have deep consumer resonance, that can travel and cross categories. We believe that investment in marketing behind true consumer brands is the only viable way in today’s market to build long-term success in craft. This merger is the first step in building a portfolio of brands that can travel, cross categories and which truly resonate with consumers on a deeper level”.
Jonathan Monie, CFO of Lord Hobo stated: “As a result of post-COVID strategic shifts, breweries across the nation face challenges in terms of holding their distribution footprint against mounting raw material and other costs. Our platform aims to enhance the distribution capabilities of the brands in our network, driving sales growth through proven best practices in contiguous states. With Lone Pine’s retail footprint, we will establish additional retail satellites across the region. Additionally, changes in licensing will allow our group to develop our spirits portfolio and entertain contract brewing, easing our way into future partnerships and avenues for growth.”
Scott Macintosh, Co-CEO of Valterra Partners LLCl, the principal investor in the new ownership group said: “Having changed management and turned around both the financial health and growth trajectory of Lord Hobo in 2023, this merger represents an important second step in realizing our long-term vision of investing behind a scale, branded company that establishes itself as a pillar of the craft community in the Northeast. Bringing Tom and John into the combined company considerably strengthens our Board, our leadership team and our culture.
Lone Pine was founded in 2016 on Anderson Street in Portland’s East Bayside neighborhood as a passion project between high school friends Tom Madden and John Paul. Since then, Lone Pine has evolved to become one of the largest craft breweries in Maine after opening a much larger brewing facility in Gorham, ME in 2018. In 2018 it was recognized as the 4th fastest growing brewery in America and now ships throughout the East coast, as well as to Midwest and West coast states, and overseas.
Established in 2015, Lord Hobo Brewing Company has grown from a small Boston craft beer bar to become an iconic Boston brand with a large brewery located in Woburn MA and a recently added Boston Seaport restaurant and taproom. Now into our ninth year, the greatest strength of the brewery is delivering innovative beverages to our passionate supporters. In the last three years, Valterra Capital, the principal investor in the brewery, has led the transformation of the company with new management and revitalized direction.
