Afognak Native Corporation purchases Brown Jug Liquor chain
Afognak Native Corporation announced it has purchased Brown Jug, a liquor retail sales business with more than 20 locations in Southcentral Alaska and Fairbanks.
The transition took place Monday, June 1. The most recent owners are Alcanna, Inc. a publicly-traded Canadian Company based out of Edmonton, Alberta. With Brown Jug's sale, Alcanna now solely operates in Canada.
Brown Jug has 21 stores in Anchorage, Eagle River, Wasilla, and Fairbanks and claims to be Alaska's first and largest retailer of wine, spirits and beer.
Brown Jug employs 218 Alaskans and generates more than $80 million in annual revenues. Afognak says adding the retail business will increase its commercial operations revenue from 2% to 12% as it works to diversify its revenue and stabilize its finances.
“Brown Jug was born and raised in Alaska and remains one of the state’s most well-known brands,” said Greg Hambright, President and Chief Executive Officer of Afognak.
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