The entrance to 331 N. Alexander St., an industrial complex on 1.9 acres in the heart of Mid-City, that was acquired Oct. 7, 2022 by Craft Kettle for $3.1 million. The craft brewery equipment maker will move into the building and hopes to eventually open a craft brewery and beverage concept of its own on the site. Longtime tenant Hooley Inc. will remain. 

The entrance to 331 N. Alexander St., an industrial complex on 1.9 acres in the heart of Mid-City, that was acquired Oct. 7, 2022 by Craft Kettle for $3.1 million. The craft brewery equipment maker will move into the building and hopes to eventually open a craft brewery and beverage concept of its own on the site. Longtime tenant Hooley Inc. will remain. 

The owner of Craft Kettle, the seven-year-old homegrown company that manufacturers equipment for craft breweries, has acquired a complex of Mid-City warehouse buildings encompassing nearly an entire city block and plans to relocate there from the firm's existing facility on Tchoupitoulas Street.

Craft Kettle founder Matt Amoss said his company’s long-term plans also call for opening its own craft brewery and beverage concept in part of the 72,000-square-foot industrial complex, which sits on 1.9 acres and comprises all but a sliver of the block bounded by North Alexander, Conti, North Murat and Bienville streets.

For now, though, Craft Kettle is focused on investing in upgrading the property and setting up its manufacturing equipment there.

“We love the location and this building,” said Amoss, who acquired the complex for $3.1 million, or $44 per square foot, in a deal that closed last week. “We see so much potential.”

Amoss acquired the Mid-City property from an entity owned by Hooley Inc., a nearly 120-year-old sheet-metal company that has operated out of the complex for decades.

Hooley will stay in its space, as will several other tenants, according to Amoss, who said Craft Kettle will take over about 10,000 square feet of space that Hooley no longer needs.

“Our goal in the initial phase is to make the least number of changes possible,” he said. “We’re not kicking anyone out. We’re not tearing anything down. Our focus is on investing in the property and securing the real estate.”

Long term, however, the company will begin planning for an expansion first hatched during a COVID lockdown-era strategy session, in which Craft Kettle’s team of craft-brewing experts began thinking about opening a brewery and beverage concept of their own.

As envisioned, Craft Kettle will develop a line of craft brews using its own specially designed system of tanks, pumps, burners and other equipment. The company also hopes to develop equipment to manufacture non-alcoholic beverages, including seltzer waters, cold-brew coffees and possibly teas.

“We still have a long way to go,” Amoss said. “But we see an opening in the beverage market that is underserved, locally, and is kind of new on the local level — this concept that serves both beer and non-alcoholic stuff in a tap-room setting.”

Realizing that vision would open new markets for Craft Kettle, which has seen rapid expansion since it first began manufacturing craft-brewing equipment in 2015, when the brewing craze nationwide was driving unprecedented growth.

In its first few years in operations, the company experienced double-digit revenue jumps, Amoss said. Over the past two years, that growth has accelerated to 100% increases, year-over-year.

Revenues for 2022 are just under $10 million. 

That growth has come from selling complete start-up packages to breweries — an offering that includes all the equipment needed to open a brewery, as well as consulting services — as well as components.

Craft Kettle counts about 500 craft breweries nationwide among its customers, Amoss said.

The local company’s growth tracks the growth of the craft-brewing sector nationwide, which has more than quadrupled over the past decade.

But before the pandemic, there were signs the industry growth was slowing, amid the growth of alternative beverages like the seltzers Craft Kettle is planning to produce.

With global supply-chain challenges, inflation and interest rate increases, Amoss said it’s too soon to map out a timeline for the planned expansion.  

Email Stephanie Riegel at stephanie.riegel@theadvocate.com.

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