Madhouse Brewing Company announces plans to leave Newton
Madhouse Brewing Company, a local craft brewery that has called Newton home for the past three years, announced this morning on its Facebook page it will be moving to Des Moines early next year.
To facilitate the move, a number of shares in the company previously held by Iowa Telecom and bought back after Iowa Telecom's purchase by Windstream, are being sold to other investors. Each unit of shares will be sold for $6,000 until all are sold or the end of the year.
The brewery also plans an open house from 5 to 7 p.m. Thursday, Nov. 21, to allow potential investors to see its new facility south of the East Village in downtown Des Moines.
Madhouse Brewing Co. has been operating as a production-only brewery since its launch in 2010. Its revenue comes from off-site distribution sales at grocery stores, liquor shops and restaurants in Iowa, Nebraska, South Dakota, North Dakota and Illinois.
See more about this developing story in Monday's issue of the Daily News.