Shacksbury
Vermont beverage company
Vergennes, VT
Food & Beverage
Shacksbury is an innovative beverage company that is breaking the mold for light adult beverages. Our Family of Brands target specific audiences within the growing “beyond beer” space while leveraging the robust production and sales infrastructure we built with our cider brand.
$603,085
raised
$1,070,893
previously crowdfunded
294
Investors
$15M
Valuation
$3.66
Price per Share
$497.76
Min. Investment
Common
Shares Offered
Equity
Offering Type
$2.3M
Offering Max
0
Days Left
This offering ended on October 30, 2021 and is no longer accepting investments.
Reasons to Invest
Strong revenue growth, from sales of $200,000 in 2015 to $2.2 million in 2020, and distribution in 30+ states. In-house production facility with room to expand to 1 million cases.
Recognized by Food and Wine and Wine Enthusiast, garnering collaborations with Momofuku Restaurant Group, Modern Times Beer, Broc Cellars and more.
The progressive adult beverage market continues to grow by 30% year-over-year and represents a $5.9 billion opportunity.
CAMPAIGN CLOSING
GIF
The Problem
Customers want new, light, beverages - all they are getting is the same hard seltzers
More than ever, consumers are focusing on wellness, originality, and authenticity. The booming hard seltzer category has proven the demand for light alcoholic beverages, however, based on our research most hard seltzer is produced by the same giant corporations fermenting the same refined sugars. We believe the beverages they produce do not adequately address a significant and growing group of adult drinkers (millennials) looking for authenticity and originality.
The Solution
Authenticity, Innovation, and Better-for-you Beverages
A McKinsey report published in 2020 argues that the growing influence of millennial and gen-Z consumers is upending traditional mass market brand building. Rather than the mass market approach, Shacksbury has created a family of brands, each targeting a specific niche market within the beyond beer category.The hallmarks of our beyond beer brands are: wellness, innovation, great design, and a strong digital presence.
Shacksbury Cider - New Classic Cider
Shacksbury Cider taps into Vermont’s cider heritage, natural beauty and active lifestyle. It is an established brand with a proven track record, posting an 89% pre-Covid CAGR (2015-2019). We are re-investing in our core lineup of ciders with a likely move to organic certification in 2022. Likewise, we plan to transition from 4 packs to 6 packs, making the brand price competitive with the largest cider brands and hard seltzers.
Easy Wine - Light Wine Made Easy
Easy Wine is light wine (5.8%) that gives wine drinkers the same casual, crushable format beer drinkers have long enjoyed with a taste hard seltzer can’t touch. Wine can be intimidating, so we wrapped our cans in mellow 70’s vibes, and at $12 per 4 pack, Easy Wine is also an easy buy.
Fairweather Cider Co - Texas Cool
Fairweather Cider’s creative flavors and trippy illustrations embody Austin’s “Texas Cool” vibe. In fall 2020, we acquired Fairweather and, as of this April, expanded its distribution footprint to the entire state of Texas with two incredible distribution partners.
Lo-Ball - Cocktail-inspired Bevs
Lo-Ball is our lo-alcohol lo-sugar ode to the cocktail that never takes itself too seriously. Our most recent release, a collaboration with WhistlePig Whiskey, is launching Nationally at Total Wines in June, and our first 1,800 case run is pre-sold.
While our original and leading brand Shacksbury Cider provides our company with a strong foundation, each of these new brands are complementary and build on three competitive advantages. We own our manufacturing facility and canning line, with capacity up to 1 million cases; we have a distribution footprint spanning 30+ states; and we have built a strong direct-to-consumer business via our online shop, cider club, and tasting room.
Our Traction
Award-winning cidery, critical accolades, and consistent growth
Shacksbury has seen strong growth since our inception in 2013. Between 2015 and 2019, we experienced an 89% revenue CAGR pre-COVID, and saw $2.2 million in sales in 2020. In July 2020 we finished phase II of our new production facility. We now produce all of our beverages in-house, and we have the capacity to expand to 1 million cases per year.
Likewise, we have steadily built a distribution system, a notoriously challenging task in the alcohol industry, that includes over 30 total states, with six new distributors added in the last twelve months.
Our authentic craft ciders are critically acclaimed, winning the Good Food Award in 2015, 2016 and 2018, taking into account our social and environmental responsibility along with our stellar craftsmanship and flavor. Shacksbury was also named a Top 10 “Brewery” of 2019 by Hop Culture and, our co-founders Colin Davis and David Dolginow were recognized by Wine Enthusiast 40 under 40.
We have been fortunate enough to collaborate with world-renowned food and beverage brands such as Momofuku Restaurant Group, Modern Times Beer, Broc Cellars, WhistlePig Whiskey, and Jasper Hill Cheese. This recognition has allowed us to reach a consumer base including beer drinkers, wine fans and foodies. "I don’t drink cider, I drink Shacksbury" is a thing we hear a lot, and it puts us in a unique position to evolve our brand to focus on the fast growing categories of canned wine and beyond beer beverages.
The Market
Beyond Beer: A bubbling market thirsty for trusted craft products
The total potential market for "progressive adult beverages" (beyond beer) including cider, FMB, canned wine and hard seltzer represents a $5.9 billion opportunity that has grown 30% year-over-year (source). The craft market is approximately $1.5 billion and growing in tandem with the beyond beer market (source).
Source: Nielsen research; Brewers Association; Note: Total market size measured off-premise channels (52-weeks ending 12/28/2019); Flavored Malt Beverages inclusive of hard seltzers, ciders, teas, and kombucha; Applies 2019 craft beer market share of total beer market to the total $5.9BN FMB, RTD, and wine pack market to calculate our approximate addressable market
This sizable high-growth opportunity directly addresses recent consumer demands. For instance, many subcategories within the beyond beer space, such as canned wine and spirits-based cocktails, are experiencing greater than 40% year-over-year growth, as the products within this market meet the needs of health-conscious consumers seeking convenience. (source)
The Business Model
In house production to national distributors and D2C Channels
* Stars indicate new distribution in the past 12 months.
Over the past eight years, we have dialed in our operations, resulting in gross margin profitability since 2016. As of July 2020, after contracting out our canning and bottling operations for the first seven years, we opened our new facility, which is capable of expanding to 1 million cases per year. Through this newly added infrastructure and our growing scale, we expect to reduce our overhead and consumable expenses per case, consequently increasing our profitability. For instance, through bulk purchasing, our average can prices dropped from $0.28 per unit for sleeved cans to $0.15 per unit for printed cans, resulting in considerable savings.
Our operational strategy is backed by a thoughtful sales model, with two distinct sales channels: wholesale distribution and a direct-to-consumer platform. We have partnerships with wholesale distributors in 30+ states, including several large houses, as well as many nimble and talented independents.
Likewise, we have relationships with key regional and national retailers, like Trader Joe’s, Whole Foods, Wegman's, Hannaford, HEB, and Total Wine, and independents like Bi-Rite, City Market, and Gold Star Beer. On the bar and restaurant side, we sell to a wide range of places, ranging from Michelin star spots like Gramercy Tavern, Blue Hill, and Taco María to volume keg placements like the Newport Folk Festival, Sour Duck, and Alamo Drafthouse.
Taking into account our ability to scale, distribution network, and retail partners, a key aspect of this raise will be to build out our sales team to fully leverage these assets. We believe the moment is ripe to hire several experienced sales people in key markets.
Our direct-to-consumer sales channels consist of a tasting room in Vermont and an established e-commerce platform. Although we primarily focus on wholesale distribution, our DTC model has seen tremendous growth, with the e-commerce platform alone growing over 221% year-over-year. This overall sales strategy has resulted in an +85% revenue CAGR from 2015-2019, and +50% YoY revenue growth in 2019.
Lost Apple project
Innovating unique flavors and rediscovering Vermont’s early cider tradition
Each fall harvest since 2013, we forage for wild apples that yield dry, food friendly ciders that evoke the style of cider that was consumed before Prohibition. We have sampled thousands of apples and fermented cider from hundreds of unique trees. Of those we have propagated 11 wild varieties via grafting in our own orchard as well as with several local orchards, marking the beginning of our “Lost Apple Orchard.” The limited release ciders that come from the Lost Apple Project are often sold exclusively via our direct-to-consumer channels, like our Cider Club, tasting room, and online shop.
The Vision
Our beverages on every shelf and growing our network of health conscious drinkers
We plan to continue on the path to building nationally recognized brands. We already sell to many of the top-performing retail chains and aim to continue with expansion to chains such as Costco, Target, and Kroger. With this raise, we are planning to invest in expanding our sales force and are confident that our reputation will attract top talent. This expanded sales team will be able to take full advantage of our impressive distribution network, retail partnerships, and delicious products.
Our goal is to serve as a trusted “flavor guide,” serving consumers beverages they love but didn’t even know they wanted. We will beat the big guys to the next trend and have fun doing it. We plan to double down on our rapidly growing cider club and digital presence to build closer and deeper relationships with our most devoted fans.
We believe that we have the infrastructure, experienced team, and proven track record to deliver on these goals.
OUR LEADERSHIP
A collaborative team and community of passionate beverage enthusiasts
Our team includes experienced and passionate people across the restaurant and beverage industries. Shacksbury was founded by Colin Davis and David Dolginow, lifelong cider champions and entrepreneurs.
Our goal from the start has been to create jobs and build a team and culture we’re proud of. Our staff of beverage enthusiasts and purveyors of community is behind the constant growth of Shacksbury.
We’re proud of the collaborative community we’ve built with our friends and colleagues in the food and beverage world, fostering yearly experiences through our “Harvest Camp” to upkeep our cider-making legacy.
Why Invest
An award-winning cidery, a promising market and innovative beverages prioritizing consumers
Shacksbury grew as an award-winning cidery, distributed across mainstream retailers as a result of hard work, a genuine interest in our craft, and our collaborative spirit.
Millennials are now driving a consumer shift to new, wellness oriented, “beyond beer” beverages. Shacksbury has proven itself to be at the cutting edge of drink creation. Our trusted recipes, diverse but focused portfolio of brands, and expansive distribution are primed to address this shift.
We believe we have a tremendous foundation to work from. We’d love for you to be a part of the Shacksbury community as we write the next chapter of our company’s story.
Quick Insert
Offering Summary
Company | : | Shacksbury Holdings Inc. |
Corporate Address | : | 11 Main St., Vergennes, VT 05491 |
Offering Minimum | : | $9,999.12 |
Offering Maximum | : | $3,965,317.20 |
Minimum Investment Amount(per investor) | : | $497.42 |
Terms
Offering Type | : | Equity |
Security Name | : | Non-Voting Common Stock |
Minimum Number of Shares Offered | : | 2,732 |
Maximum Number of Shares Offered | : | 1,083,420 |
Price per Share | : | $3.66 |
Pre-Money Valuation | : | $15,043,566.24 |
*Maximum Number of Shares offered subject to adjustment for bonus shares. See Bonus info below.
Company Perks*
Early Bird
Friends and Family - First 48 hours | 10% bonus shares
Super Early Bird - Next 48 hours | 5% bonus
Volume
Tier 1 $500 - Investor hat
Tier 2 $1,000 - Tier 1 + Mixed 12pk of cans from Shacksbury Cider, Fairweather Cider and Easy Wine
Tier 3 $10,000 - Tier 2 + 1 Year Shacksbury Cider Club membership
Tier 4 $25,000 - Tier 3 + Investor exclusive merch kit
Tier 5 $50,000 - Tier 4 + Overnight at Basin Harbor Club and Private Barrel Tasting
Tier 6 $100,000 - Tier 5 + Name a fermentation tank (Total of 5 available)
*All perks occur when the offering is completed.
The 10% Bonus for StartEngine Shareholders
Shacksbury Holdings, Inc, will offer 10% additional bonus shares for all investments that are committed by investors that are eligible for the StartEngine Crowdfunding Inc. OWNer's bonus.
This means eligible StartEngine shareholders will receive a 10% bonus for any shares they purchase in this offering. For example, if you buy 100 shares of Non-Voting Common Stock at $3.66/ share, you will receive and own 110 shares for $366. Fractional shares will not be distributed and share bonuses will be determined by rounding down to the nearest whole share.
This 10% Bonus is only valid during the investors eligibility period. Investors eligible for this bonus will also have priority if they are on a waitlist to invest and the company surpasses its maximum funding goal. They will have the first opportunity to invest should room in the offering become available if prior investments are canceled or fail.
During the live offering, investors will only receive a single bonus, which will be the highest bonus rate they are eligible for.
The Company will not incur any irregular use of proceeds.
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Most recent fiscal year-end:
Prior fiscal year-end:
Total Assets
$1,583,300.00
USD
$1,273,312.00
USD
Cash And Cash Equivalents
$317,657.00
USD
$50,864.00
USD
Accounts Receivable
$258,623.00
USD
$244,108.00
USD
Short Term Debt
$360,072.00
USD
$819,162.00
USD
Long Term Debt
$1,362,451.00
USD
$649,732.00
USD
Revenues And Sales
$2,213,913.00
USD
$2,845,568.00
USD
Costs Of Goods Sold
$1,776,043.00
USD
$2,410,802.00
USD
Taxes Paid
$0.00
USD
$0.00
USD
Net Income
-$396,604.00
USD
-$489,766.00
USD
Risks
A crowdfunding investment involves risk. You should not invest any funds in this offering unless you can afford to lose your entire investment. In making an investment decision, investors must rely on their own examination of the issuer and the terms of the offering, including the merits and risks involved. These securities have not been recommended or approved by any federal or state securities commission or regulatory authority. Furthermore, these authorities have not passed upon the accuracy or adequacy of this document. The U.S. Securities and Exchange Commission does not pass upon the merits of any securities offered or the terms of the offering, nor does it pass upon the accuracy or completeness of any offering document or literature. These securities are offered under an exemption from registration; however, the U.S. Securities and Exchange Commission has not made an independent determination that these securities are exempt from registration.
Updates
Last Day To Invest, Last Campaign Update!
10 months agoTo our esteemed campaign followers and shareholders,
We SO appreciate everything that you have done to help us move our business forward. We are busy at work transitioning our core ciders to USDA-certified organic and making a big splash in 2022.
Please stay in touch.
Cheers,
Team Shacksbury
Why Invest? Well Q3 Was Stellar!
10 months agoHey Folks,
September was our best month ever, with total revenue at approximately $377,000. This stellar month closed out our third quarter sales, with another best. Our best quarter ever! With total sales at approximately $879,000. Needless to say, after a difficult 2020 readjusting to the changes that Covid brought, we are feeling super confident, as we tackle the holiday season and look forward to 2022.
Remember to pick cider for Thanksgiving! Nothing pairs better with turkey than a classic, dry cider.
Warm regards,
Team Shacksbury
Food and Wine features Shacksbury
10 months agoHey Folks,
Just yesterday, Food and Wine posted a wonderful piece about wild apples that provides some great information on our Lost Apple Project. Check out the story here!
As always, reading and thinking about wild apples is best done with a can of Deer Snacks in hand.
Cheers,
Team Shacksbury
Campaign Closing Friday!
10 months agoHey Folks,
We're entering a final week of fundraising via StartEngine. It has been a wonderful journey thus far and we hope that you'll continue on with us! By the way, we're seeing record sales for our Mixed Pack and hope to continue the trend.
Cheers,
Team Shacksbury
Upcoming Collaboration with Farmhouse Pottery
10 months agoHey Folks!
We're excited to tease out that we have a fun project coming down the line with our friends at Farmhouse Pottery in Woodstock, Vermont in time for the holidays. Stay tuned for more information and check out our latest Instagram post for a bit more information!
Also we just launched an amazing collaborative cider with our friends at Portland's award-winning Hunt + Alpine Club. It's delicious and the perfect pairing to sweater weather.
Cheers,
Team Shacksbury
Sign Up For Today's Q3 Webinar Via Zoom
10 months agoHey Folks,
We will be hosting an informal Q3 update today via Zoom. To attend, please fill out this form: https://forms.gle/3uEgyxpyw7tmDhA98
Wednesday, October 20
3:00 - 3:30p ET
Via Zoom
Bonus points if you have a Deer Snacks can in hand.
Cheers!
Team Shacksbury
NEW Product Alert! Easy Wine Red and White
10 months agoNext week, we will officially release two products in our new canned wine brand, Easy Wine.
Easy Wine was born out of a simple desire - to enjoy wine like your favorite beer, cider, or seltzer. A need for a wine that was both portable but also flavorful. We wanted an easy wine for leisure time and no other can on the shelf could deliver. So we made one.
These light wines have mellow bubbles and feature a pleasant 5.8% ABV. Easy Wine White is also 0 sugar and 100 calories.
For additional information, visit DrinkEasy.Wine.
Foraging at Apple Hill
10 months agoHey Folks,
Every fall (when there are apples on the trees), we head out to Apple Hill in Rochester, Vermont to pick some incredible wild apples as part of our Lost Apple Project. Many of these apples have the tannin, acidity, and aromatics to make complex ciders that pair beautifully with food. We made it there on Friday with our production team and some fellow industry friends. We're excited to incorporate these apples into our Deer Snacks VI or another special cider in 2022.
You can see the iconic barn from Route 73, near route 100, in Vermont.
Cheers!
Team Shacksbury
Food52 Names Shacksbury As a Top Cider For Fall
10 months agoHey Folks,
The great minds at Food52 named Shacksbury on their list for best hard ciders to drink this fall. Learn more at this link!
For a cider that is a wonderful representation of our Lost Apple Project, check out Deer Snacks V via our online shop.
Cheers,
Team Shacksbury
Campaign closing soon!
10 months agoHey Folks,
We are excited to announce that our campaign will close just before Halloween on October 29th. Fall, foliage and the apple harvest are in full swing here in Vermont, and we just closed our best month EVER in sales. We hope you'll join our team of shareholders.
Cheers,
Team Shacksbury
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