From BizJournals:
Essentially, both things happened in 2012, the new subsidiary’s first year. Alchemy & Science acquired the Angel City Brewery in Los Angeles, and launched two new beers in that market under the Angel City brand. Meanwhile, Newman launched his own new beer brand, called Traveler Beer Co. (originally known as House of Shandy).
All this work isn’t inexpensive. Boston Beer projected that it was spending $3 million to $5 million on Alchemy & Science during its first year. The company is now saying that it is increasing its annual allocation, with an additional $2 million to $4 million for Alchemy & Science this year. Boston Beer executives say there’s no guarantee that the minimal revenue from these ventures will cover these expenses, which could total as much as $9 million, or that the costs won’t increase again if another project is identified.
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