MassDevelopment Finances New Brew House for Tree House Brewing Company
September 29, 2016
FOR IMMEDIATE RELEASE
Meggie Quackenbush, MassDevelopment, 617-330-2011 & 857-208-2777 (cell)
Darlene Mark, Country Bank, 413-277-2063
Damien Goudreau, Tree House Brewing Company, 413-335-5285
MassDevelopment has issued a $7,740,000 tax-exempt bond on behalf of Landreau Realty, LLC, a real estate entity for Monson-based Tree House Brewing Company. The Agency enhanced the bond with a mortgage guarantee. Tree House is using bond proceeds to build and equip a 53,000-square-foot 60 beer barrel brew house in Charlton. The expansion will allow Tree House to brew up to 3,000 barrels of beer a week, or 150,000 barrels a year, and meet demand from its customers for the company’s highly-rated craft beer. The new brew house is an expansion of Tree House’s current brewery in Monson. Country Bank purchased the bond.
“Tree House Brewing Company exemplifies the type of creativity, dedication and entrepreneurial spirit that has put Massachusetts’ world-class craft brewers and food manufacturers on the map,” said MassDevelopment President and CEO Marty Jones. “We are pleased to help invest in Tree House Brewing Company’s expansion into Charlton, and are grateful to Country Bank for its flexibility in putting together a unique financing solution with the Small Business Administration, and to the Town of Charlton for it important partnership on this project.”
“Country Bank is delighted to be the preferred lender for Tree House Brewing Company, Inc., and Laundreau Realty LLC,” said Darlene Mark, Country Bank Vice President of Commercial Lending. “Country Bank has been with Tree House since their early days in Brimfield and we’re excited to support the growth at this new facility through a creative financing package to meet their unique lending needs.”
Tree House was founded in 2011 and began as a 10-gallon nanobrewery, a brewery that produces very small quantities of beer, in Brimfield. According to Beer Advocate, Tree House’s craft beers account for 14 of the top 100 beers in the country, including its top rated IPA, Julius.
“We were faced with many opportunities and plenty of sleepless nights going through our options for our expansion in Charlton. We're proud to say Country Bank and MassDevelopment made it an easy decision,” said Tree House Brewing Company’s Damien Goudreau. “We continue to be humbled, not only by our customer base, but by our financial institution that stood by us from day one.”
MassDevelopment, the state’s finance and development agency, works with businesses, nonprofits, financial institutions, and communities to stimulate economic growth across the Commonwealth. During FY2016, MassDevelopment financed or managed 352 projects generating investment of more than $4 billion in the Massachusetts economy. These projects are projected to create about 8,200 jobs and build or rehabilitate about 4,200 residential units.