Madhouse Brewing Company announced Thursday that it plans to move from its site at the former Maytag headquarters building near downtown Newton to new digs south of Des Moines' East Village early next year.
The local craft brewery has been operating in Newton for the past four years as a production only facility. The new Des Moines location at 501 Scott Avenue will allow craft beer enthusiasts to visit the brewery for tours, tastings and special events, a new revenue stream opportunity for its investors.
Currently, Madhouse revenue comes solely from the sale of beer through off-site distribution channels including grocery stores, bars, liquor shops and restaurants. It distributes its craft beers throughout Iowa, as well as Nebraska, South Dakota, North Dakota and Illinois.
In an effort to assist with the move, Madhouse Brewing Company's board of directors is offering ownership units for sale to investors. The units were previously owned by Iowa Telecom, but were re-purchased by the brewery due Windstream's acquisition of Iowa Telecom.
The company's board has valued the units at $6,000. They will remain available until sold or the end of the year.
Madhouse officials are planning an informal open house at the new brewery location in Des Moines from 5 to 7 p.m. Thursday, Nov. 21. It will provide an opportunity for anyone interested in investing in the company to see the new location, learn about expansion plans and have questions answered about the project. Those unable to attend may contact Mason Groben at email@example.com.
Groben and investors were able to open the craft brewery in Newton after former Gov. Chet Culver signed a measure into law in 2009 that removed a Prohibition-era edict that blocked an individual from working in both the wine and beer industry.
The legislation, introduced by Sen. Dennis Black, D-Lynnville, allowed an individual employed in the wine industry to also be employed in the beer industry, as long as the "person has no ownership interest in either licensed premises." Since the 1930s, such dual activity was banned.
In 2003, Groben, also a vintner, helped his parents open Jasper Winery in Newton. The operation has since left Newton and moved to Des Moines.