PORTLAND, OR / ACCESSWIRE / July 5, 2017 / Eastside Distilling, Inc. (OTCQB: ESDI) (OTCQB: ESDID) (“Eastside” or the “Company”), a producer of award-winning craft spirits, today announced that it has completed its planned consolidation of its craft spirit production with the recently acquired Motherlode Craft Distillery bottling facility. The Motherlode facility boasts a pneumatic bottling line, with a 5 times increase in bottling rate, and large volume spirit handling capability. The Company believes the cost reductions associated with the consolidation will exceed $200,000 per annum, while also allowing for improvements in gross profit margins. The Big Bottom Distillery will continue to produce spirits independently, but bulk ship to Motherlode for bottling.
Mel Heim, Executive VP of Eastside Distilling, commented, “As of July 1, Eastside occupancy costs dropped dramatically. Our team is always on the lookout for ways to lower fixed costs and improve production efficiency, like with the consolidation of our MLK facility with Motherlode. Having bottling operations at a single location that has new and better bottling equipment, should make for more efficient use of our production staff, increase our capabilities and reduce costs.”
Allen Barteld, CEO of Motherlode, commented, “With production for Eastside spirits and Motherlode private label clients in one location, we have the advantage of cost-lowering efficiencies of scale, such as combined purchasing of bottling materials and more intensive equipment usage. My hope is that we will be able to win even more business by passing along these savings to our private bottling customers.”
About Eastside Distilling
Eastside Distilling, Inc. (OTCQB: ESDI) is located in Southeast Portland’s Distillery Row and has been producing high-quality, master crafted spirits since 2008. Makers of award winning spirits, the company is unique in the marketplace and distinguished by its highly decorated product lineup that includes Barrel Hitch American Whiskies, Burnside Bourbon, Below Deck Rums, Portland Potato Vodka, and a distinctive line of infused whiskeys. All Eastside spirits are master crafted from natural ingredients for unparalleled quality and taste. The company is publicly traded under the symbol OTCQB: ESDI. For more information visit: www.eastsidedistilling.com or follow the company on Twitter and Facebook.
Important Cautions Regarding Forward-Looking Statements
Certain matters discussed in this press release may be forward-looking statements. Such matters involve risks and uncertainties that may cause actual results to differ materially, including the following: changes in economic conditions; general competitive factors; acceptance of the Company’s products in the market; the Company’s success in obtaining new customers; the Company’s success in product development; the Company’s ability to execute its business model and strategic plans; the Company’s success in integrating acquired entities and assets, and all the risks and related information described from time to time in the Company’s filings with the Securities and Exchange Commission (“SEC”), including the financial statements and related information contained in the Company’s Annual Report on Form 10-K and interim Quarterly Reports on Form 10-Q. Examples of forward-looking statements in this release may include statements related to our strategic focus, product verticals, anticipated revenue, and profitability. The Company assumes no obligation to update the cautionary information in this release.
Company Contact:
Eastside Distilling
[email protected]
Investors:
Robert Blum, Joe Diaz or Joe Dorame
Lytham Partners, LLC
(602) 889-9700
[email protected]
SOURCE: Eastside Distilling, Inc.