Ken Grossman, founder of Sierra Nevada Brewing Company, is now worth a billion dollars, according to a recent article in Bloomberg Business. According to the article, Sierra Nevada sold 1 million barrels of beer in 2014 — equal to 331 million 12-ounce bottles — producing revenue of $250 million. Grossman himself is valued at more than $1 billion based on the enterprise value-to-sales and enterprise value-to-earnings before interest, taxes, depreciation and amortization of Boston Beer Co., the only large publicly traded craft beer maker.
Grossman told Bloomberg Business that the valuation seemed high to him. “I didn’t get into the business to try and make a ton of money and I’ve made enough money that I am totally comfortable and don’t want for anything,” he said. And he likely won’t be wanting for anything anytime soon—Sierra Nevada’s sales were up 25% last year.
Grossman is only the third craft brewer in the U.S. to hit the billion dollar mark. Jim Koch, founder of Boston Beer Company is valued at $1.3 billion and Dick Yuengling is valued at $2.6 billion.
Personally, I have a hard time putting a value on a beer as good as Sierra Nevada Pale Ale. Let’s just call it priceless?