Worcester Business Journal

wbjournal.com | December 25, 2023 | Worcester Business Journal 25 $1,198,000 Office Building Auburn, MA Commercial Real Estate Loan $3,200,000 Apartment Complex Worcester, MA Construction to Permanent Loan $1,450,000 Self Storage Facility Lancaster, MA Construction to Permanent Loan $1,400,000 Wine Vineyard Shrewsbury, MA Commercial Real Estate Loan To learn how we can help your business, contact: Daniel Kelser Interim Chief Commercial Banking Officer | NMLS ID #2156115 28 Franklin Street, Worcester, MA | 508.890.9051 PROUD TO BE YOUR LOCAL LENDER OF CHOICE: $500,000 Environmental Firm Sterling, MA Working Capital Line of Credit e company has 48 products in the development pipeline. In addition to infectious disease vaccines, Moderna is using its technology to research cancer treatments, cardiovascular diseases, and autoimmune diseases. Jack's Abby joins top 50 producers list for American craft breweries Jack's Abby Cra Lagers is now one of the biggest cra breweries in America. e Brewers Association released its annual production figures for the United States cra brewing industry and the Framingham-based brewery came in as the 47th largest cra brewery in the country. e Brewers Association ranked breweries by production. Jack's Abby also brewed beer under its Springdale Beer Co. from 2016 to Febru- ary 2023, which focused on barrel-aged beer as well as sours and India Pale Ales. As well as brewing its own beer, the brewery also took on the contract to brew Everett-based brewery Night Shi Brewing, Inc. in July of 2022. When asked if the Night Shi contract came into Jack's Abby's total production, the Brewers Association said, it can't comment on individual brewery submis- sions, but "as much as possible, we try to include proprietary production totals in this release." In total, the Brewers Association reports that small and independent breweries produced more than 24.3 million barrels of beer in 2022, which was on par with the previous year. Cra beer's market share grew to 13.2%, an in- crease of 0.01%. e overall beer market shrank 3% by volume in 2022, though, while sales growth increased compared to volume thanks to pricing, a share shi to smaller brewer, and the continued return to on-premise sales, which have a higher average retail value. Cra brewers provided 189,413 jobs, a 9% increase from 2021. "2022 presented small brewers with a number of challenges, including rising operating and material costs and increasing competition, particularly in distribution," Brewers Association chief economist Bart Watson said in an April 18 press release. "In this maturing and competitive market, collective growth for the category is hard to come by." e other Massachusetts breweries on the list were Boston Beer Co., which came in second, and the Harpoon Brewery, which is owned by Mass Bay Brewing Co. and purchased Long Trail Brewing Co. in Vermont last July, came in at 16. One notable brewery not on the list was Charlton's Tree House Brewing Company, which has recently expanded its operation to Cape Cod, Deerfield, and Tewskbury. When asked if and how the Brewers Association calculated Tree House's production, the trade organiza- tion said it "estimated Treehouse using state production data from Massachu- setts tax receipts." Table Talk names new president as Kokkinis becomes chairman Worcester food manufacturer Table Talk Pies has named Isaac Long as its new president. He takes over for Harry Kokkinis, a third-generation leader who is now executive chairman. Table Talk was founded in 1924 by Kokkinis's grandfather and his business partner, both Greek immigrants. Long has been in a relationship with Table Talk as a strategic advisor for several months, according to a June 20 release from the company. He was most recently an operating partner at Truck 9 Partners, a private equity and venture capital firm in Boston. Prior to Truck 9, he led a family-owned agricultural business through a financial turnaround as CEO and CFO, according to the press release. Long is a former aviator with the U.S. Navy and earned an MBA from Harvard Business School af- ter leaving military service. His bach- elor's degree, from North Dakota State University, is in speech communication, according to his LinkedIn profile. Kokkinis will remain in an advisory role as executive chairman. "While this is a major change, I do believe it is for the good of the company. As I have grown older, it has become clear to me that I need help in running the company. Just as my father needed help back in 2003 when I started work- ing for Table Talk, now in 2023 I need help," Kokkinis said. Harry Kokkinis, chairman of Table Talk Pies W

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