$25M investment aids HopCat expansion efforts
About a year after opening its first out-of-state location, Grand Rapids-based HopCat plans to open 30 more.
Mark Sellers is the owner of HopCat parent company Barfly Ventures. He tells the Grand Rapids Press a $25 million investment allows HopCat to open six new locations a year for the next five years. That’s in addition to its current six locations, including recent openings in Detroit, Ann Arbor and Madison, Wisconsin.
The Press reports the deal includes a less than 5 percent ownership stake for the undisclosed Dallas-based capital lender.
Sellers says they’re looking for Midwest markets with a college presence.
HopCat, which is known for its expansive line-up of craft and local brews, first opened in Grand Rapids in 2008.
Barfly Ventures is also the parent company of McFadden’s, Stella’s Lounge and the Grand Rapids Brewing Company.