Doug, Wynne and Corkie Odell founded Odell Brewing Company in 1989 as a family owned, community focused Colorado business, committed to making great beer and empowering outstanding co-workers.
26 years later, the Odells are selling majority interest in the brewery to these co-workers who have created the company’s success. The founders will remain in active management, with Wynne continuing to serve as CEO.
The Odells were clear about what they wanted as their legacy: continuation of the brewery’s cultural fabric, its financial stability and its independent control. As Doug Odell stated, “the craft beer industry is changing dramatically and we have seen several of our friends and neighbors selling their companies, in whole or part, to major brewers and private equity firms. While these options are more lucrative than the one we chose, we believe that the people who built OBC are the best ones to lead us successfully into the future.”
Doug, Wynne and Corkie sold 19% of the brewery’s stock to a newly formed Employee Stock Option Plan (ESOP), in which all co-workers participate. The stock in the ESOP will change in value as the company grows, creating a direct reward for the efforts of each co-worker.
A majority of the company’s stock has been sold to the company’s executive team, including Eric Smith, CSMO, Brendan McGivney, COO and Chris Banks, CFO. This team collectively shares 52 years of experience with the Odell family and the Brewery. The remaining stock will be retained by the individual co-founders to continue the Odell family legacy.
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