Yesterday, we posted news that Coronado Brewing was planning to sell the Monkey Paw brand and/or brewing equipment and space, which they acquired around September of 2017. In the same post, we mentioned a breach of contract lawsuit filed by Monkey Paw’s founder against the company.
“The timing of both [the sale and lawsuit] are coincidental, one doesn’t have to do with the other,” Coronado Brewing CEO Brandon Richards said in an interview with The Full Pint. And Richards told Brewbound that the decision to put Monkey Paw on the market did not stem from the pending litigation, but rather was aimed at refocusing attention on growing the core Coronado business.
Richards, who was COO at the time of Monkey Paw’s acquisition, not CEO, also told Brewbound that Monkey Paw “is just not something we want to resource, financially, at this point.”
Richards told West Coaster that there is interest in Monkey Paw, “but we haven’t received an offer.”
We asked, “What, if anything, did you learn from running the Monkey Paw brewery/brand that will help Coronado/SouthNorte?”
“I learned that making business decisions can be tough and this is one we have to make to move our business forward,” Richards replied.
There has been no talk of divesting the SouthNorte startup, according to The San Diego Union-Tribune.
