So for the past 9 months i have been going to RockBottom on Thursday nights for their mug club night where you get a tall micro for a $1. However in the past two months they have changed their menu and all of their beers have gone bland. From talking to the servers at rock bottom, Gordon Birsche bought Rock bottom and is taking over.
I know this doesn't count for much but all of the cool local themed beer names are gone(red trolley, seal beach, signal hill, pine ave) along with the beers. No longer is there beer that feels like they were made by a heavy handed hops brew master.
From Talking to the guys at stein-fillers the brew master there has either won some accolades or has been recognized at the national level.
So here is my question, Has anyone been down to the Rock bottom south of OC to see if there is a similar take over?
RockBottom Takeover/merger
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RockBottom Takeover/merger
Beer is like bread just in different ratios.
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JonW
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Re: RockBottom Takeover/merger
I guess that explains why they took my favorite item off the menu. Rock Bottom had the best fish and chips anywhere - Alder Smoked Salmon Fish & Chips. They were awesome. They dropped them many months ago and I quit going there because of it.
It sounds like Gordon Birsche is taking away the autonomy that the local RB brewers previously enjoyed.
It sounds like Gordon Birsche is taking away the autonomy that the local RB brewers previously enjoyed.
Re: RockBottom Takeover/merger
I'd read about this happening at some of the other locations, but I rarely go to Rock Bottom so I haven't experienced it personally. Gordon Biersch does make some fine beer, but it's sad to hear about the homogenization going on across the restaurants.
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backyard brewer
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Re: RockBottom Takeover/merger
This type of thing never ceases to amaze me and it's really too bad they are doing that. At a place I used to work, we bought a smaller company that was kicking our ass in a nich market segment. So we promptly took over, decided they were doing things ass-backwards and forced them to do things our way. Then everyone sat around bewildered when they tanked and we handed even more market share to the competitor that was similar to the company we bought.
Go figure....
Go figure....
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Re: RockBottom Takeover/merger
November 15, 2010
Gordon Biersch, Rock Bottom acquired by Centerbridge Partners in mega-deal
Centerbridge Capital Partners Forms CraftWorks Restaurants & Breweries, Inc. via the Concurrent Acquisitions of Rock Bottom Restaurants, Inc. and Gordon Biersch Brewery Restaurant Group, Inc.
[Ed. note: the combined business will have roughly $43.6 million in Ebitda (cash flow before deductions) according to Standard & Poor's.]
Chattanooga, TN – Centerbridge Capital Partners, L.P. and its related entities (“Centerbridge”), formed CraftWorks Restaurants & Breweries, Inc. (“CraftWorks”) by closing on concurrent acquisitions of Rock Bottom Restaurants, Inc. (“Rock Bottom”) and Gordon Biersch Brewery Restaurant Group, Inc. (“Gordon Biersch”) today. The companies will operate as subsidiaries of CraftWorks and will retain their brands. The combined business becomes the nation’s leading operator and franchisor of brewery and craft beer-focused casual dining restaurants with nearly 200 owned and franchised locations across the United States. CraftWorks’ primary concepts include Old Chicago, Rock Bottom and Gordon Biersch.
CraftWorks is led by Frank Day and Allen Corey. Frank Day, founder of Rock Bottom, serves as Chairman of the Board and brings over 45 years of restaurant experience to the newly formed company. Allen Corey, an original investor and 13 year CEO of Gordon Biersch, is the President and CEO of CraftWorks and brings over 18 years of restaurant experience to the position.
Regarding the formation of CraftWorks, Frank Day stated, “This merger marks a new era for both Rock Bottom and Gordon Biersch and I am very excited about the growth potential that the future holds for CraftWorks.”
“Gordon Biersch, Old Chicago and Rock Bottom are differentiated casual dining concepts with strong guest loyalty, high energy atmospheres and a high quality offering of craft beer and made-from-scratch food,” stated Jason Mozingo, a Managing Director at Centerbridge. “We are excited by the prospect of partnering with the management teams to strengthen the long-term operating performance of the business and position it for growth.”
Mr. Corey said, “I am honored to have the opportunity to lead the combined company. There is a long-standing relationship between Rock Bottom and Gordon Biersch which will facilitate a smooth and efficient integration of the two businesses. With the help of our new financial sponsor, Centerbridge, we look forward to a successful future as the nation’s leading brewery and craft beer-focused casual dining restaurant operator.”
Gordon Biersch Brewery Restaurant Group, Inc was formerly majority owned by Hancock Park Associates. Rock Bottom Restaurants, Inc. was owned by founder Frank Day and his investment group.
Duff & Phelps Securities, LLC, an affiliate of Duff & Phelps LLC (NYSE: DUF), and North Point acted as the exclusive financial advisors to Rock Bottom and Gordon Biersch, respectively, in connection with this transaction. Faegre & Benson and Miller Martin acted as legal advisors to Rock Bottom and Gordon Biersch, respectively.
Centerbridge was advised by Weil, Gotshal & Manges. Duff & Phelps Securities, LLC, also advised CraftWorks on the acquisition of Gordon Biersch. Wells Fargo and GE Capital were joint-lead arrangers for a $150 million credit facility to support the transaction.
There are no plans for re-branding or closing any units at this time.
About CraftWorks
CraftWorks Restaurants & Breweries, Inc., through its three principal operating units, Old Chicago, Gordon Biersch and Rock Bottom, is the nation’s leading operator and franchisor of craft beer-focused casual dining and brewery restaurants with nearly 200 owned and franchised locations across the United States. CraftWorks also operates strong regional brands, including ChopHouse and Big River and maintains intellectual property rights to the Boulder Beer, Inc. microbrewery. The company maintains dual headquarters in Chattanooga, TN and Louisville, CO. For additional information, please visit www.craftworksrestaurants.com
About the Brands
Rock Bottom: Polished casual restaurant brewery offering a broad range of unique ales and lagers handcrafted and brewed on-site. Founded in Colorado nearly two decades ago, Rock Bottom Restaurant & Brewery can now be found in 16 states. Having earned over 125 of the brewing industry’s most esteemed medals and awards, Rock Bottom is known coast to coast for its fresh beer, hospitality and great food.
Gordon Biersch: Upscale casual brewery restaurant specializing in handcrafted German lagers, brewed in-house according to the Reinheitsgebot purity law of 1516. Gordon Biersch features a made-from-scratch American menu with bold international flavors that can be found in 18 states across the country and the District of Columbia.
Old Chicago: Traditional casual dining restaurant specializing in Chicago-style deep-dish pizzas, New York-style thin crust pizzas, pastas, calzones, salads, burgers and sandwiches. The Old Chicago World Beer Tour allows members to taste the best beers from across the globe with 110 craft beer styles including 30 draft choices. Old Chicago operates in 23 states.
In addition to these three core brands, CraftWorks also operates a variety of specialty concepts including A1A Ale Works, Big River Grille and Brewing Works, Bluewater Grille, ChopHouse & Brewery, Ragtime Tavern, Seven Bridges Grille & Brewery and The Walnut Brewery.
About Centerbridge
Centerbridge Partners, with approximately $12 billion in capital under management, was established in 2006 and invests across multiple strategies, including private equity and credit investments. The firm is dedicated to partnering with world-class management teams to help companies achieve their operating and financial objectives
Gordon Biersch, Rock Bottom acquired by Centerbridge Partners in mega-deal
Centerbridge Capital Partners Forms CraftWorks Restaurants & Breweries, Inc. via the Concurrent Acquisitions of Rock Bottom Restaurants, Inc. and Gordon Biersch Brewery Restaurant Group, Inc.
[Ed. note: the combined business will have roughly $43.6 million in Ebitda (cash flow before deductions) according to Standard & Poor's.]
Chattanooga, TN – Centerbridge Capital Partners, L.P. and its related entities (“Centerbridge”), formed CraftWorks Restaurants & Breweries, Inc. (“CraftWorks”) by closing on concurrent acquisitions of Rock Bottom Restaurants, Inc. (“Rock Bottom”) and Gordon Biersch Brewery Restaurant Group, Inc. (“Gordon Biersch”) today. The companies will operate as subsidiaries of CraftWorks and will retain their brands. The combined business becomes the nation’s leading operator and franchisor of brewery and craft beer-focused casual dining restaurants with nearly 200 owned and franchised locations across the United States. CraftWorks’ primary concepts include Old Chicago, Rock Bottom and Gordon Biersch.
CraftWorks is led by Frank Day and Allen Corey. Frank Day, founder of Rock Bottom, serves as Chairman of the Board and brings over 45 years of restaurant experience to the newly formed company. Allen Corey, an original investor and 13 year CEO of Gordon Biersch, is the President and CEO of CraftWorks and brings over 18 years of restaurant experience to the position.
Regarding the formation of CraftWorks, Frank Day stated, “This merger marks a new era for both Rock Bottom and Gordon Biersch and I am very excited about the growth potential that the future holds for CraftWorks.”
“Gordon Biersch, Old Chicago and Rock Bottom are differentiated casual dining concepts with strong guest loyalty, high energy atmospheres and a high quality offering of craft beer and made-from-scratch food,” stated Jason Mozingo, a Managing Director at Centerbridge. “We are excited by the prospect of partnering with the management teams to strengthen the long-term operating performance of the business and position it for growth.”
Mr. Corey said, “I am honored to have the opportunity to lead the combined company. There is a long-standing relationship between Rock Bottom and Gordon Biersch which will facilitate a smooth and efficient integration of the two businesses. With the help of our new financial sponsor, Centerbridge, we look forward to a successful future as the nation’s leading brewery and craft beer-focused casual dining restaurant operator.”
Gordon Biersch Brewery Restaurant Group, Inc was formerly majority owned by Hancock Park Associates. Rock Bottom Restaurants, Inc. was owned by founder Frank Day and his investment group.
Duff & Phelps Securities, LLC, an affiliate of Duff & Phelps LLC (NYSE: DUF), and North Point acted as the exclusive financial advisors to Rock Bottom and Gordon Biersch, respectively, in connection with this transaction. Faegre & Benson and Miller Martin acted as legal advisors to Rock Bottom and Gordon Biersch, respectively.
Centerbridge was advised by Weil, Gotshal & Manges. Duff & Phelps Securities, LLC, also advised CraftWorks on the acquisition of Gordon Biersch. Wells Fargo and GE Capital were joint-lead arrangers for a $150 million credit facility to support the transaction.
There are no plans for re-branding or closing any units at this time.
About CraftWorks
CraftWorks Restaurants & Breweries, Inc., through its three principal operating units, Old Chicago, Gordon Biersch and Rock Bottom, is the nation’s leading operator and franchisor of craft beer-focused casual dining and brewery restaurants with nearly 200 owned and franchised locations across the United States. CraftWorks also operates strong regional brands, including ChopHouse and Big River and maintains intellectual property rights to the Boulder Beer, Inc. microbrewery. The company maintains dual headquarters in Chattanooga, TN and Louisville, CO. For additional information, please visit www.craftworksrestaurants.com
About the Brands
Rock Bottom: Polished casual restaurant brewery offering a broad range of unique ales and lagers handcrafted and brewed on-site. Founded in Colorado nearly two decades ago, Rock Bottom Restaurant & Brewery can now be found in 16 states. Having earned over 125 of the brewing industry’s most esteemed medals and awards, Rock Bottom is known coast to coast for its fresh beer, hospitality and great food.
Gordon Biersch: Upscale casual brewery restaurant specializing in handcrafted German lagers, brewed in-house according to the Reinheitsgebot purity law of 1516. Gordon Biersch features a made-from-scratch American menu with bold international flavors that can be found in 18 states across the country and the District of Columbia.
Old Chicago: Traditional casual dining restaurant specializing in Chicago-style deep-dish pizzas, New York-style thin crust pizzas, pastas, calzones, salads, burgers and sandwiches. The Old Chicago World Beer Tour allows members to taste the best beers from across the globe with 110 craft beer styles including 30 draft choices. Old Chicago operates in 23 states.
In addition to these three core brands, CraftWorks also operates a variety of specialty concepts including A1A Ale Works, Big River Grille and Brewing Works, Bluewater Grille, ChopHouse & Brewery, Ragtime Tavern, Seven Bridges Grille & Brewery and The Walnut Brewery.
About Centerbridge
Centerbridge Partners, with approximately $12 billion in capital under management, was established in 2006 and invests across multiple strategies, including private equity and credit investments. The firm is dedicated to partnering with world-class management teams to help companies achieve their operating and financial objectives
Re: RockBottom Takeover/merger
Not just happening locally...
http://beeradvocate.com/forum/read/3772727
http://beeradvocate.com/forum/read/3784895
And one of the most accomplished Rock Bottom brewers was basically forced out last fall:
http://blog.oregonlive.com/thebeerhere/ ... ock_b.html
Sad, really. One of the reasons I always liked Rock Bottom is that they maintained the true brewpub feel -- each local brewer had extremely wide latitude to brew whatever they wanted. I think they had a corporate requirement that each location had to have a few specific categories (not as specific as mandating particular recognized "styles" of beer), and the local brewer had the ability to present his own take on those categories as well.
Note: this tactic wasn't always great. Near where my parents live, in Warrenville IL, there's a Rock Bottom that has been consistently disappointing in their beers. But it's right next to a 30-screen movie theater and so I'm sure it did consistently great revenue. So it doesn't always work. But the results at those locations which DO have good brewers makes up for the bad.
Now it appears that's gone. Some say they'll still be able to offer local seasonals and one-offs, but the general belief on beeradvocate is that they'd gone to corporate recipes for their main beers.
I'm not going to boycott Rock Bottom over something like this, but it has now become a place that I won't really seek out, and I'll be looking for alternative local brewpubs instead when they're available.
http://beeradvocate.com/forum/read/3772727
http://beeradvocate.com/forum/read/3784895
And one of the most accomplished Rock Bottom brewers was basically forced out last fall:
http://blog.oregonlive.com/thebeerhere/ ... ock_b.html
Sad, really. One of the reasons I always liked Rock Bottom is that they maintained the true brewpub feel -- each local brewer had extremely wide latitude to brew whatever they wanted. I think they had a corporate requirement that each location had to have a few specific categories (not as specific as mandating particular recognized "styles" of beer), and the local brewer had the ability to present his own take on those categories as well.
Note: this tactic wasn't always great. Near where my parents live, in Warrenville IL, there's a Rock Bottom that has been consistently disappointing in their beers. But it's right next to a 30-screen movie theater and so I'm sure it did consistently great revenue. So it doesn't always work. But the results at those locations which DO have good brewers makes up for the bad.
Now it appears that's gone. Some say they'll still be able to offer local seasonals and one-offs, but the general belief on beeradvocate is that they'd gone to corporate recipes for their main beers.
I'm not going to boycott Rock Bottom over something like this, but it has now become a place that I won't really seek out, and I'll be looking for alternative local brewpubs instead when they're available.
Brad