The explosion of craft beer is one of the most exciting changes Phil Terry has encountered in his 24-year career with Monarch Beverage Co. Terry, 64, chatted with IBJ recently about the impact of craft beer on the beer-and-wine distributor he leads, which employs 650 people.
IBJ: It’s 4:30 p.m., and we’re talking about craft beer. What is this craft beer craze—this latest one at least—doing to your business?
TERRY: It’s changing it in a lot of ways, most of it for the good. In our craft business over the last five years, we’re up 55 percent in cases we sell. In 2010, our craft beer sales were 1.2 million cases. Last year, they were just under 2 million.
IBJ: What about revenue?
TERRY: In terms of revenue on craft beer, we’re up 75 percent. There are some tradeoffs. People aren’t necessarily drinking more; they’re drinking differently. On premium light beers, we’re off about 6 percent.
IBJ: What’s your total revenue for beer?
TERRY: $275 million
IBJ: What portion of your total revenue is from craft beer?
TERRY: It’s about 13 percent. … CLICK HERE TO READ THE FULL STORY AT IBJ
