Two-year-old Artisanal Brewers Collective will open Broxton, its 13th brewery and bar, in Westwood in mid-October.
The collective was co-founded by Tony Yanow, who sold his first company, Golden Road Brewing, to Anheuser-Busch Inbev SA in 2015 on undisclosed terms.
Artisanal Brewers Collective, which counts seven co-founders besides Yanow, was started a year later, and its expansion has been swift.
The company purchased four bars in downtown Los Angeles from the ACME Hospitality Group early last year, as well as several standalone spots. Artisanal Brewers has also built its own bars and breweries. Yanow declined to comment on the company’s funding source and revenue figures.
“I wish I could say we had a master plan or a five-year strategy, but we don’t,” he said. “We love creating fun and compelling places, and then making food and drinks for people. We live for and love serving people, building relationships, and putting smiles on faces.”
The collective plans to follow Broxton with a few more openings in coming months, “but after that, we will be really working to optimize the places we have,” said Yanow.
He said the fast growth curve reflects his passion for creating spaces for people to gather.
“I’m obsessed with the concept of the ‘third place,’ ” he said. “Home, work and pub. We want to be that third place. Comfortable, fun, relaxed.”
AltaSea Raises $8.5M
A public-private partnership and business accelerator focusing on ocean research raised $8.5 million last month for its proposed campus at the Port of Los Angeles.
AltaSea aims to provide a space for a range of ocean-oriented technology and business tenants. The organization hopes rental revenue will provide it with operating funds for research, education facilities and programs that are part of its broader vision, according to its website.
The nonprofit raised the funds from undisclosed investors and now plans to build the first phase of its 35-acre center for ocean-focused science research. The $8.5 million is a bit more than 50 percent of the total cost for the current phase, meeting a condition that brings better lease terms with the Port of Los Angeles, as well as the go-ahead to build the project out. The rent for AltaSea is $75,000 per year now that it has passed the 50 percent mark on fundraising, according to Tim McOsker, AltaSea’s chief executive. It would have been $166,000 a year otherwise.
“What this allows us to do is take control of three warehouses, or 180,000 square feet of space at the port,” McOsker said.
AltaSea will take full possession of three warehouses with deep-water dock access – Buildings 58, 59 and 60 – as well as an approximately 1-acre vacant parcel next to Building 58, the nonprofit said.
AltaSea currently has five tenants, including Catalina Sea Ranch, an aquaculture company, and aerospace giant Boeing Co.
AltaSea was formed in 2013 after the L.A. City Council unanimously voted to approve a 50-year lease to transform a 100-year-old pier – City Dock No. 1 – into a marine research and innovation center.
“AltaSea is a vital partner of the Port of Los Angeles as we continue our efforts to create a future-facing harbor that embraces innovation and economic growth,” Jaime Lee, president of the Board of Harbor Commissioners, said in a statement. “We are heartened and pleased that AltaSea has met this major milestone and look forward to its continued growth and presence on the LA Waterfront.”
Macy’s Pops Up
Cincinnati, Ohio-based retailer Macy’s Inc. plans to bring its The Market at Macys pop-up to Westfield Group Inc.’s Century City mall in October in the first test for the concept in the Los Angeles market.
Numerous retailers are exploring new ways to get customers into brick-and-mortar stores, and the Macy’s 1,000-square-foot pop-up is an example. There are now 11 of the pop-up stores in the United States, with most located close to department store’s brick-and-mortar locations.
The idea is to help draw shoppers to the main store with a mix of eye-catching. Macy’s-selected brands. The brands pay for shelf space, and get 100 percent of sale proceeds and customer data, according to Macy’s.
Macy’s personnel will staff, set up and take down the booths.
Staff reporter Shwanika Narayan can be reached at [email protected] or at (323) 556-8351.
