| McMenamins | |
| Type: | Private |
| Foundation: | 1983 |
| Location City: | Portland, Oregon |
| Location Country: | USA |
| Locations: | 63 https://www.mcmenamins.com/find-us |
| Area Served: | Western Oregon, Central Oregon, and Washington |
| Industry: | Hospitality, Microbrewery |
| Products: | Beers, Wines, Cider, Distilled spirits, Coffee |
| Revenue: | $180 million (estimated as of 2017) |
| Owner: | Mike, Robert and Brian McMenamin (founders and majority owners) |
| Num Employees: | 3,528 (as of 2018) |
McMenamins is a family-owned chain of brewpubs, breweries, music venues, historic hotels, and theater pubs in Oregon and Washington. Many of their locations are in rehabilitated historical properties; at least nine are on the National Register of Historic Places. According to the Brewers Association, McMenamins is one of the top 50 largest craft breweries in the United States.[1]
McMenamins was founded by brothers Mike and Brian McMenamin, who grew up in northeast Portland, Oregon.[2] They trace the beginning of McMenamins to the 1974 opening of Produce Row Café.[2]
In 1985, McMenamins opened Oregon's first brewpub in the Southwest Portland neighborhood of Hillsdale.[3] Their first theater pub was the Mission Theater & Pub (1987).[4] The company then entered the broader hospitality business starting in 1990, when they converted a 74-acre site (that at one time served as the Multnomah County Poor Farm) into McMenamins Edgefield. By 1997, food accounted for over half of McMenamins' total sales.[5] The company opened its 55th location in April 2018.[6]
While still primarily family-owned, in May 2020 McMenamins began raising $20 million from private investors in a Preferred Stock Offering to retire short-term debt as a result of COVID-19 shutdowns, to fund "secret projects" and to enable future expansion. This was the first time the company had opened direct investment in McMenamins, Inc. to those outside the McMenamin family.[7] The private equity offering conferred preferred shares at $100,000 each in private placements to 150 to 200 high-income individuals. The shares do not carry voting rights for their holders but McMenamins indicated that investors could expect a 3% annual cumulative dividend and a 6.5% overall return.[8]
The decision to open McMenamins to outside investors was in-part driven by impacts from COVID-19 with total revenue for McMenamins down 50% in the first 5 months of 2020.[9]
Individually notable locations include: