Winnipeg Free Press - PRINT EDITION
Posted: 01/9/2014 1:00 AM | Comments: 0
Chris and Lawrence Warwaruk went into the Dragons' Den with a dream and came out with a couple of partners for their estate brewery.
The owners of Farmery Brewery have agreed to partner with Arlene Dickinson and David Chilton, two of the angel investors on the popular television show, in getting the first estate brewery in Canada up and running on the family farm in Neepawa.
An estate brewery brews beer with ingredients that are grown on the property.
The brothers went into the show asking for $200,000 in exchange for a 20 per cent stake in the company, but in the end they didn't have to give up any ownership. "All five dragons were bidding on it. We went into the backroom and we felt David and Arlene had the best experience with marketing and being able to take our beer to a national level," Chris Warwaruk said.
The Warwaruks will pay out six per cent royalties to the two dragons. The final terms are still being negotiated.
"We're looking forward to negotiating so we can build the brewery on the farm. We're hoping it will be up and running in the fall," Warwaruk said.
It's estimated the entire project will cost between $2.5 million and $3 million. Where the rest of the required capital will come from is yet to be determined.
"We will have to get significant investments to get to the next level. We're open to discussing that with other people," Lawrence Warwaruk said.
He said they are going to make sure they progress methodically and do not make the same mistakes other breweries in the province, most notably Fort Garry Brewing Company, have made.
The pair hosted about 120 friends and family members at Luxalune Gastropub, the Osborne Street pub they operate on Wednesday night to watch the episode.
When they announced their deal on the show, the crowd erupted like a hockey crowd cheering an overtime goal.
"It's everything that my brother and I have dreamed of," Chris Warwaruk said.
There was little time to celebrate. They were scheduled to board a plane to Los Angeles this morning to showcase their beer at the Golden Globe Awards.
Republished from the Winnipeg Free Press print edition January 9, 2014 B4
Have you found an error, or know of something we’ve missed in one of our stories? Please use the form below and let us know.
Having problems with the form?Contact Us Directly
Parking pass cooks up storm
Interim CEO at B.C. Lottery Corp. promoted
Weekly earnings rise in Manitoba
Dish's Internet TV, Sling, gets HBO service for $15 a month
Ballpark figure: US$4.25M
Macerich and Sears are big market movers
Got a business beef, bouquet? There's a site for that
Puerto Rico approves law to crack down on tax evasion
Google this: cheaper laptop
How the Dow Jones industrial average fared Wednesday
US agency charges Kraft, Mondelez with wheat price rigging
Most actively traded companies on the TSX
Search, social & shopping: Pinterest turns 5
Cara Operations prices shares at $23 in IPO
Allegiant pilots plan Thursday strike, scrapping 250 flights
Hot cars at the New York International Auto Show
Ex-executive at fatal-crash sentencing: I wasn't suicidal
US stocks ease for a second day; price of crude oil soars
McDonald's: Workers to get pay hikes at company-owned stores
Pennsylvania plane crash came during routine flight review
Honda shows off dramatic new Civic coupe at New York show
KBR Inc. to pay $130K penalty over whistleblowers dispute
Fahmy 'crippled' by lack of Canadian passport
Woman walking inside fence at San Jose airport is 5th breach
Variety of fee increases in store for park visitors
Greek pensioners hold anti-government rallies
Massive fire engulfs Mexican oil rig, 4 dead
Agricultural fertilizing can begin early: province
Crystal Cathedral megachurch founder Robert Schuller ailing
Engineers create boot-like device to make walking easier
Why businesses are speaking out on religious-objections laws
Bondholders offer $2B boost for Puerto Rico power company
Wal-Mart seeks assist from its suppliers to lower prices
Businesses, performers boycott Indiana because of new law
5 things to know about GM's revamped Chevy Malibu
Will federal leaders claim new tax benefits?
US stocks edge lower in midday trading, continuing a slide
Rebels in eastern Ukraine pay pensions in Russian rubles
McDonald's revamps grilled chicken to cut ingredients
US stock indexes extend slide in afternoon trading