Local brewers receive backing from 'Dragons Den' investors
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- Published on Thursday, January 9, 2014
myWestman.ca
Call it a successful appearance on the CBC television show "Dragon's Den" for Chris and Lawrence Warwaruk, owners of Farmery Brewery.
The brothers ended up agreeing to partner with Arlene Dickinson and David Chilton --who are investors on the popular program which aired Jan. 8 -- in getting what will be the first microbrewery in Manitoba up and running on their farm near the Arden area.
The brothers ended up going on the show looking for $200,000 in exchange for a 20 per cent stake in the company. The brothers wound up not having to give up any ownership whatsoever due to all five investors on the show being interested in bidding on the brewery.
The brothers opted to work with Dickinson and Chilton who offered the investment in exchange for six per cent of the royalties. The final terms however, are still being negotiated.
"We're looking forward to negotiating so we can build the brewery on the farm. We're hoping it will be up and running in the fall," Chris Warwaruk told Geoff Kirbyson of the Winnipeg Free Press.
The project is estimated to cost somewhere in the neighbourhood of $2.5 to $3 million dollars. Where the rest of the required capital will come from to build the brewery is yet to be determined. The brothers have indicated they are looking to get investments from outside organizations/people.
The brewery is expected to include a tourist component so that the public can visit and tour the place where the beer is being produced.
The brothers are currently producing their craft lager -- which consists of five per cent alcohol -- at a southern Ontario brewery and selling their flagship beer called "Farmery Premium Lager" in liquor commissions throughout Manitoba. While the beer is brewed in Ontario, it is made using hops and barley grown on the brothers' farm.
The brothers apparently haven't had much time to enjoy the partnership and are reportedly in Los Angeles where they are planning on showcasing their beer at the Golden Globe Awards on Sunday night.
Photo: The Warwaruk brothers who pitched their Farmery Brewery business model to the panel on the show "Dragon's Den", which aired on Jan. 8.
Photo submitted
