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Welcome to New Belgium’s Alternatively Empowered section of the website. We are honored that you are taking a moment to familiarize yourself with our heart-felt approach to business at this Colorado-based brewery. Within this site we share the philosophies driving New Belgium’s approach to environmentally, socially and economically conscious business. It conveys the goals guiding our voyage towards a business truly aligned with nature and its inhabitants. We share our principal successes and challenges on this journey in an effort to help other organizations following this path, but also to maintain transparency – an imperative element in true sustainability.

Our commitment towards sustainability in brewing & business began on Day One of New Belgium’s history when environmental stewardship made it in the first draft of the company’s Core Values and Beliefs. Since then, a company culture has been evolving in which coworkers grasp this high-minded corporate vision and make it a reality. Our engaged coworkers deserve much praise for their individual commitment to the values that drive New Belgium, and ultimately result in the successes mentioned throughout this report.

Should you wish to participate in our journey toward Sustainability (and we hope you do!) please send us your thoughts. At New Belgium, we strive to both follow and lead in this global movement that is creating a values-driven world that preserves our ability to flourish as human beings. This is truly a collaborative process. If you have feedback or suggestions, we welcome you to contribute to our effort by dropping us a line at sustainability@newbelgium.com.

With gratitude,

Kim Jordan, cofounder & CEO

Jennifer Vervier, Director of Strategy & Sustainability

Katie Wallace, Sustainability Specialist

Alie Rich, Sustainability Specialist

NEW BELGIUM COMPANY PURPOSE: Operate a Profitable Brewery which Makes our Love and Talent Manifest.

Affinity for Nature is in our DNA

When our co-founders first decided to make the leap from homebrewing to commercial production, they took a long hike in Rocky Mountain National Park. Notebook and homebrew in hand, they set out to develop a plan. On that now legendary trek they sketched out a few big ideas about how they wanted their work to manifest in the world. They knew they wanted to produce world-class beers in an environmentally friendly fashion. They talked about promoting beer culture and the responsible enjoyment of beers. It was important for them to have fun while working hard. The Core Values and Beliefs that our CEO, Kim Jordan, and her co-founder, Jeff Lebesch, scribbled in their notebook that day continue to guide us.

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New Belgium Brewing Becomes 100% Employee-Owned Company

January 17, 2013

New Belgium Brewing is excited to announce that the company’s Employee Stock Ownership Program (ESOP) has purchased the balance of company shares, making it 100% employee-owned. New Belgium, brewer of a wide variety of award-winning beers including Fat Tire Amber Ale, has been a partial ESOP since 2000 with a controlling interest held by co-founder Kim Jordan and her family. This transition will put the company on a path to control their destiny into the foreseeable future.

“There are few times in life where you get to make choices that will have multi-generational impact - this is one of those times. We have an opportunity to write the next chapter of this incredible story and we’re really excited about that,” said New Belgium CEO and co-founder, Kim Jordan. “We have always had a high involvement ownership culture and this allows us to take that to the next logical level. It will provide an elegant succession framework that keeps the executive team in tact ensuring our vision stays true going forward.”

Jordan plans to remain CEO for the long-term and the executive team at New Belgium will continue in its current form. The Fort Collins brewer is currently building a second facility in Asheville, North Carolina that will begin beer production in 2015. More than 150 additional hires are expected by full build out in Asheville.

New Belgium was advised by Eureka Capital Markets, a middle market investment-banking firm with expertise in both the food & beverage sector and ESOP transactions, which assisted in structuring and completing the second stage ESOP buyout transaction.

“It was an honor to work with a craft brewing leader like New Belgium and help them transition the ownership of the business to its tight culture of employee owners,” said Michael Harden, Managing Director. “Given all of the consolidation occurring in the craft brew sector, we expect that many other craft brewers will investigate how using an ESOP might help them achieve their transition goals while enabling them to remain independent companies.”

The Fort Collins brewer is currently building a second facility in Asheville, North Carolina that will begin beer production in 2015. The transition to 100% ownership will enable New Belgium to include their future co-workers in Asheville, NC in the plan and will drive an even deeper commitment to progressive business practices for the company. More than 150 additional hires are expected by full build out in Asheville.

The deal was completed on the 28th of December with a companywide announcement made during the New Belgium’s annual winter retreat on the 14th of January. All 456 employee-owners were present for the celebration. Prior to this deal, New Belgium co-workers held 41% of the company’s shares.