Jackalope Brewing Acquired by Private Investment Company

October 9, 2024 – Nashville, Tennessee brewing staple Jackalope Brewing Company has been acquired, according to a press release made public today. Tacoma and Hoyt LLC, an investment company based in Franklin, Tennessee, has acquired the 15 year old beer brand. Financial terms of the deal were not disclosed.

Tacoma and Hoyt LLC is run by Steve Barone, who acts as CEO for the company and will now serve as Jackalope’s CEO as well. Little is known about the firm, but the role appears to be new for Barone. Until last year, he served as CEO for cybersecurity firm CBI, which was acquired in 2022, according to his profile on LinkedIn.

According to the Tennessee Secretary of State, the business was incorporated in July of this year.

As part of the transition, former owners Bailey Spaulding and Steve Wright will serve as Chief Beer Officer and Chief Revenue Officer, respectively. Spaulding founded the company with Robyn Virball in 2009, and were joined soon thereafter by Wright. The brewery opened to the public in 2011, and in 2014 Virball left the company to pursue other interests.

Full press release available below

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NASHVILLE, Tenn., Oct. 9, 2024 — Jackalope Brewing Company (“Jackalope Brewing,” “Jackalope Brewing Company and Taproom,” “Bar Jackalope,” or “Jackalope”), a celebrated staple in Nashville’s vibrant craft beer scene, is proud to announce its acquisition by Tacoma and Hoyt LLC, a Tennessee-based investment firm dedicated to acquiring and fostering high-caliber brands across diverse industries. Established in 2011, Jackalope Brewing Company and Taproom is located in the heart of Nashville’s dynamic Wedgewood-Houston neighborhood. This acquisition marks a significant milestone, promising further investment in the community and setting the stage for an exciting new chapter of growth and expansion.

Under the leadership of Steve Barone, CEO of Tacoma and Hoyt LLC, Jackalope Brewing Company is poised to embark on an exciting era while maintaining the spirit, quality, and creativity that have defined the brewery since its inception. Barone, now CEO of Jackalope, brings his extensive business acumen and passion for craft beer to the helm, ensuring the brewery remains competitive and thrives in the evolving craft beer market.

Bailey Spaulding, the visionary and founder of Jackalope Brewing Company and one of the first female craft brewery founders in the country, will continue her role as Chief Beer Officer. Spaulding will concentrate on her true passion—masterfully crafting award-winning beers while pushing the boundaries of innovation within the ever-evolving craft beer industry.

“I am thrilled to be a part of this next phase of Jackalope’s journey,” said Spaulding. “This acquisition allows me to focus even more on the beer. I look forward to working alongside Steve [Barone] to build on Jackalope’s legacy while continuing to craft beers that our customers love.”

Steve Wright, President of Jackalope Brewing Company, will transition to Chief Revenue Officer. In this new capacity, he will focus on enhancing and broadening sales relationships throughout Tennessee and neighboring states. Leveraging his extensive experience, Wright will be pivotal in advancing Jackalope’s regional growth strategy, further solidifying the company’s presence and success in Tennessee and across the Southeast.

“This acquisition is a huge opportunity for Jackalope to expand its reach while staying true to the values that have made us who we are,” said Wright. “I’m excited to focus on growing our sales and bringing our legendary brews to even more people throughout the Southeast.”

Steve Barone, the CEO of Tacoma and Hoyt LLC and now the CEO of Jackalope Brewing Company, emphasized the potential and promising opportunities this acquisition brings. “We are incredibly excited to collaborate with Bailey and Steve [Wright] to elevate Jackalope to new heights. Our commitment is to preserve the rich legacy of Jackalope while focusing on strategic growth and ensuring that the Jackalope brand continues to thrive in the communities we serve and across the broader craft beer industry.”