Newport Craft Brewing & Distilling Company has agreed to purchase the intellectual property assets of Braven Brewing Company, a recently shuttered brewery from Brooklyn, New York.
The news of Braven’s recent closing and availability for purchase sparked the interest of Newport Craft Brewing & Distilling Company. Brendan O’Donnell, CEO and Owner, along with Co-Owners, Derek Luke and Brent Ryan, recognized the many opportunities that acquiring Braven’s brand would have. “I began my hospitality career owning and operating a bar in the Lower East Side of Manhattan, so I was already familiar with the quality of the beers Braven was brewing,” says O’Donnell. “Acquiring the Braven intellectual property assets gives us the opportunity to continue Braven’s well-established brand and community connection while creating a new outlet for Newport Craft in New York City.”
Located in the historic Bushwick neighborhood of Brooklyn, Braven was co-founded by friends Marshall S. Thompson and Eric Feldman in 2013. The company began by brewing their beers in Saratoga Springs, New York in 2014, eventually opening its own brick-and-mortar brewery in Bushwick in 2018. Braven distributed its Bushwick PilsnerⓇ, White IPA, and other styles to more than 4,000 retailers during its four year existence under Thompson and Feldman’s direction. Despite the brand’s popularity, Braven faced a number of financial and personal challenges that led to its closure in early 2019.
Community engagement is something that both breweries value and will continue as Newport Craft plans to maintain Braven’s “Bold & Crafty” values. “Supporting artists, musicians, and other creatives in the Bushwick community was the bedrock of the company we conceived many years ago,” claims Marshall S. Thompson, Braven’s CEO. “We believe Newport will continue to work with the individuals and organizations who continue to make Bushwick the most creative and energetic neighborhood in New York City.”
As part of the transaction, Newport Craft will acquire the intellectual property, beer recipes, and customer lists, among other assets. However, Newport Craft will not continue Braven’s overall operations or assume any of Braven’s liabilities. Terms of the deal will not be released.