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
Report: IRS issues $5.6 billion in bogus education credits
Whisky enjoying a resurgence
New CEO takes over at drugmaker Bristol-Myers Squibb
Province's economic growth ahead of national average
Ottawa to reduce satellite regulatory fees
7-foot trench collapses outside New Jersey home; worker dies
Senate votes to move forward on GOP budget compromise
CraveTV now available on Apple TV
Van Gogh work could bring over $40M at NYC auction
AP Interview: Emirates airline boss sees more US growth
High-tech sensors help kids keep eye on aging parents
Growth in US services firms picked up speed last month
Panera CEO on push to banish artificial ingredients
US stocks drift lower in morning trading; oil price jumps
Freddie Mac posts 1Q profit
Macy's to open first 4 off-price stores in NYC area
Greece lobbies creditors for loan payout, cites progress
Swiss bank UBS sees profit jump as rich park their cash
British markets bracing for post-election uncertainty
Amazon Prime members will be able to stream free on JetBlue
Loonie up, TSX down sharply
US trade deficit jumps to 6-year high of $51.4 billion
Chrysler worker dies in accident at Detroit plant
RioCan seeks tenants for 15 ex-Target stores
'Avengers' + 'Star Wars' = big year for Disney
Trade deficit grew to record $3B in March
Freddie Mac posts $524M profit in 1Q; paying $746M dividend
Disney beats Street 2Q forecasts
WestJet Q1 profit soars to $140.7 million
HSBC first quarter pretax profits up 4 per cent
Wireless roaming rates on the table
EU raises eurozone forecast despite bleaker Greek outlook
Volkswagen won't rush choice of new board chair
China to lift price controls on most drugs starting June 1
Lufthansa's operating loss narrows on lower fuel costs
German train drivers start five-day strike in wage dispute
Top NY lawmaker's arrest sends session, Senate into disarray
Afghan poppy farmers say new seeds will boost opium output
US cleanup would leave some asbestos in contaminated town