E-Malt.com News article: USA, OR: Ex Novo Brewing accepts offer to sell its two Oregon locations

Ex Novo Brewing, which put its two Oregon locations up for sale in March, on September 15 said in a Facebook post it had accepted an offer for the properties, with the sale expected to close in November, Oregon Live reported on September 13.

The brewery didn’t identify the buyer or expand on details of the sale. It said, however, that the buyer intended to keep “as much continuity as possible” between current Ex Novo operations and the new owner’s plans for the properties.

Ex Novo opened in North Portland in 2014 with a mission to give back to the community and support nonprofit causes. It expanded to Beaverton in 2019 with a pizza pub, and the same year founder Joel Gregory opened Ex Novo’s third location — in Corrales, New Mexico, where he had grown up.

In an interview with The Oregonian in March, Gregory commented on putting the properties up for sale.

“Try as we have for the past four and a half years, I just feel like we’re missing some things operationally and not being as good of stewards as what we want to be there,” he said. “It’s had more than its fair share of struggles,” including the death of its head brewer a year earlier.

The asking price was listed as $1.79 million. The listing says the two locations and brewery together did nearly $4 million in revenue in 2022, almost returning to pre-pandemic levels.


14 September, 2023