Author: By Andy Brownfield – Managing editor, Cincinnati Business Courier
Northwood Cider Co., the only craft beverage maker in the Cincinnati region dedicated solely to hard cider, is up for sale, with both the business and its real estate on the market.
Northwood Cider, which opened at 2075 Mills Ave. in the heart of Norwood in November 2022, has been listed for sale with an asking price of $1.15 million. The owners, however, have no plans on shuttering the business and are hoping to find a buyer who would want to take the company, which they say has growth runway, to the next level.
“We have an excellent staff and put out some great craft cider,” Joe Klare, who opened Northwood with Darrin Wilson and both of their wives, told me. “We’re looking to pass the torch to someone who can take it and run.”
While the craft beer industry has seen multiple years of declining production, dipping 4% in 2024, craft cider production has risen in 30 states, according to the American Cider Association, seeing double-digit jumps in Georgia, Arizona and Tennessee. The overall regional craft cider segment saw sales increases of 3.4% between July 2023 and July 2024.
Klare said Northwood is poised to take advantage of that growth. As the region’s only dedicated cidery, Klare said Northwood has seen demand rising for off-premise distribution of its ciders to grocery stores, retailers and other bars and breweries, especially outside the Interstate 275 loop.
Northwood also has not maxed out its production capacity at its Norwood taproom – it can make up to 1,000 barrels a year – so there is the opportunity to do contract brewing for other brands, Klare said.
Klare said when he, Wilson and their wives started the business in 2022, he had no children and Wilson had one. Now, both of their families have grown, and the founders don’t have the bandwidth to be active business operators as well as owners. They all have day jobs in addition to Northwood.
“I want to spend my evenings teaching my kid to play soccer instead of trying to run a business,” he said. “We are looking for someone who can take the business to the next level and dedicate the time that we can’t.”
Nick Pesola with commercial real estate and business brokerage 3CRE has the listing for the business and the 4,884-square-foot property. He said the two are being sold together, and it’s the owner’s preference to sell to someone who would be interested in continuing operations, but they are open to all offers. He said the brokerage has already seen interest from potential buyers.
The facility is licensed to produce wine as well as craft cider.
“They’re Cincinnati’s first craft hard cider business and really unlike some other sectors in the industry, craft cider is growing,” Pesola said. “This is a great, unique opportunity for someone to operate in a building they own and grow and scale.”