As we continue to grow, our relationship with RBS Citizens has enabled us to reach the next level of growth for our company,” said Rich Doyle, Harpoon’s CEO and co-founder. “We are passionate about brewing great beer and sharing it with fellow beer lovers who come to visit us. An additional 55,000 barrels a year are produced at the company’s brewery in Windsor, Vermont, which is running at full capacity. Since 2008, production at the Harpoon Brewery in Boston has increased from 60,000 barrels a year to 120,000 barrels produced in 2011. Harpoon has experienced steady revenue growth over the past three years and is forecasting continued growth through 2012 and beyond as the market for craft beer continues to expand. These enhancements will include the construction of a new beer hall to host a greater number of visitors. It also allows Harpoon to move forward with plans to renovate and expand its visitor center later this year, enabling more extensive tours of the facility via a series of catwalks throughout the brewery. The financing from RBS Citizens will allow Harpoon to purchase and install new bottling and labeling machinery that will run at higher speeds and with greater efficiency. Harpoon Brewery secures $3.5 million loan from RBS Citizens to finance brewery and visitor center expansion Financing enables Harpoon’s continued growth in Boston’s Seaport Districtīoston (April 10, 2012) – Harpoon Brewery, a pioneering New England craft brewery based in Boston, MA and Windsor, VT, and RBS Citizens announced today that they have finalized $3.5 million in financing for a major expansion of its brewery and visitor center in Boston’s burgeoning Seaport District.
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