Modern Times, one of the fastest growing breweries in the country, recently announced that they had sold a 30% stake in the company to their employees, with the eventual goal of the company being 100% employee-owned.  Read MT’s announcement.

CEO and founder Jacob McKean sums up the importance of this move:

Modern Times is proof that a start-up brewery can compete and win in the craft beer market without selling out, all the while taking outstanding care of our employees and rewarding our investors.

McKean has long been a vocal proponent of independent craft brewing.  He wrote a great article, What selling out is all about that debunks many of the myths surrounding buyouts and zombie brands- it is definitely worth the read.  In it, he concludes:

Here’s the truth: selling to a macro-brewer is the fastest, simplest way to turn equity in a craft brewery into cash. That’s the only reason to sell to them. Anyone who claims otherwise is full of shit.

Selling part of their business to employees is a path that brewers are looking at in increasing numbers.  New Belgium was an early example of how to make this work.

Cheers, Jacob.  Craft on.