Otter Creek Brewing/Wolaver’s Organic Ales
Raising the Spirits of Organic Agriculture
“Our partnership with RSF will not only help expand our capacity to promote sustainable agriculture through a fun and inviting organic product, but also allow us to finance growth with an organization that shares our values and hopes for the future.”
- Morgan Wolaver, co-founder and CEO of
Otter Creek Brewing/Wolaver’s Organic Ales
In the early 1980’s, the beer industry in the United States experienced a renaissance; hand crafted beers brewed at small, local breweries, so commonplace until the mid 20th century, reemerged to capture the imagination and palate of artisan beer afficionados. Today, craft beers represent 3.5% of America’s $50 billion beer industry.
In 1998, the craft beer industry experienced its own renaissance; brothers Robert and Morgan Wolaver launched Wolaver’s Organic Ales, the first certified organic beer in the nation.* Craft beers are made with barley, hops, yeast and water; no chemical additives or processes are permitted. Organic craft beer takes a commitment to purity one step further, brewing with organically grown barley and hops in breweries certified to brew organic beer.
Wolaver’s Organic Ales, the leading organic beer brand in the country and an RSF borrower, has helped to develop a U.S. market for organic specialty malts and organic hops. Wolaver’s also donates a percentage of its profits to organizations supporting organic farming research, like the Organic Farming Research Foundation in Santa Cruz, CA, and the Organic Trade Association.
“The organic beer segment has grown considerably since we launched Wolaver’s Organic Ales,” says Co-founder and CEO Morgan Wolaver. “My brother and I launched Wolaver’s because of our love of good beer and to introduce an organic consumer product that would attract new customers to the organic food movement…Our partnership with RSF will not only help expand our capacity to promote sustainable agriculture through a fun and inviting organic product, but also allow us to finance growth with an organization that shares our values and hopes for the future.”
”RSF supports sustainable agriculture in many ways,” says RSF President and CEO Mark Finser. “Our investors and donor advisors have made it possible for us to finance organic farms directly. Now we are funding another important link in the supply chain, companies working to promote the same cause.”
For more information, please visit www.ottercreekbrewing.com. To become at investor at RSF to support social enterprises that promote environmental, social, and economic sustainability, please go to our “Social Investment Fund” page for more information.
*Because RSF is a financial organization that values transparency, we are disclosing what may be perceived as a potential conflict of interest. RSF Vice President Joe Glorfield is related by marriage to the major shareholders of Otter Creek Brewing, the company that produces Wolaver’s Organic Ales. Mr. Glorfield formerly served as Otter Creek’s CEO, a position now held by his father-in-law’s brother, Morgan Wolaver, and currently owns a minority interest in the company. Mr. Glorfield did not participate in any aspect of the underwriting, negotiations or approval of RSF’s loan to Otter Creek.
Friday, December 29th, 2006