The owners of the HopCat chain of breweries, Barfly Ventures LLC, have secured $25 million in new financing from two undisclosed Texas investors through the Birmingham based investment banking firm, Cascade Partners LLC.
The newly acquired funds afford the Grand Rapids-based company enough cash to double their current expansion plan, allowing for 6 new HopCat openings per year for the next 5 years, including 6 new brew pubs coming in the next year alone.
HopCat, which recently opened its now thriving location in Midtown, also operates in East Lansing, Grand Rapids, and Ann Arbor, as well as out of state in Indianapolis, Indiana and Madison, Wisconsin.
It’s next opening is slated take place in Lexington, Kentucky, this fall.
After the large successes of the East Lansing and Ann Arbor locations, the company will continue to focus its expansion in college towns across the country.