Rogue’s Dead Guy Gets New Lease on Life as Bid for Bankrupt Brewery’s IP Reaches $400k
Rogue’s Dead Guy might get a new lease on life. Roughly nine months after Rogue Ales & Spirits’ parent company Oregon Brewing filed for Chapter 7 bankruptcy, companies are vying for Rogue’s intellectual property (IP).
U.K.-based digital marketing agency Silver Scope Media Ltd made a $400,000 bid, and the U.S. Bankruptcy Court for the District of Oregon is accepting offers through Aug. 21. Competing bids are required to top Silver Scope’s proposal by $40,000.
Oregon Brewing estimated the craft beer brand’s IP at $2 million in its valuation of assets, according to Brewbound. Rogue’s IP assets include its website domain; all confidential information, including recipes, manufacturing, specifications, and quality control; biological strain and propagation rights of Rogue’s proprietary yeast; social media accounts; and trademarks, including that of its famed “Dead Guy” IPA.
The search for a buyer of the IP comes five months after Rogue’s bankruptcy liquidation auction, which saw a firesale of its tangible assets like unitanks, hoses, and other brewery equipment.
Oregon-based Valley View Winery filed an objection to the parent company’s intent to sell the IP, as it claims it maintains a “perpetual license” for the rights to Rogue’s wine and wine-based beverages. The winery’s filing states that it trademarked Rogue in 1983, though they reached a settlement agreement with Oregon Brewing in 1997 that gave it rights to the brand’s beer products.
Oregon Brewery’s filing for Chapter 7 came as a shock to the craft beer industry. Rogue abruptly shuttered its distillery and taprooms before citing $17 million in debts against roughly $5 million in assets. Former employees fired back at the parent company for giving little notice of the layoffs and violating the Worker Adjustment and Retraining Notification Act.
A hearing for the potential sale and any associated objections will take place on Aug. 26.
The article Rogue’s Dead Guy Gets New Lease on Life as Bid for Bankrupt Brewery’s IP Reaches $400k appeared first on VinePair.