Arkansas’s Oldest Brewery Plans to Sell Its Property
Diamond Bear Brewing Company, Arkansas’s pioneer craft brewery, is set to be sold in an auction on October 25 unless owner Russ Melton receives a suitable offer beforehand. The sale includes the 3-acre property at 600 N. Broadway St. in North Little Rock and the 15,435-SF facility. Blackmon Auctions of Little Rock is handling the sale.
The sale of the property does not necessarily mean the 24-year-old brewery will close. Melton envisions the sale going one of four ways. The new owner might buy the property and have Diamond Bear lease it back. Alternatively, the brewery might stay for a few months before moving to a new location. The new owner could also buy the brewery outright, or Diamond Bear could operate for a couple of months before the board decides to sell the equipment and liquidate.
The decision to sell is partly driven by Melton’s desire to retire. The 67-year-old Melton, who previously worked in the tire business for 30 years, started Diamond Bear in 2000 with his wife, Sue. Despite being a trailblazer in the state’s craft brewing industry, the brewery has faced challenges, particularly during the COVID-19 pandemic, which significantly impacted the restaurant segment, a key part of Diamond Bear’s customer base.
In recent years, Diamond Bear has moved from its original location at 323 Cross St. to Argenta in North Little Rock, expanding its capacity and adding a restaurant. Last summer, the brewery partnered with restaurateur Bart Likes to convert its taproom into Ol’ Bart Southern Eats. Despite the challenges, Diamond Bear has won numerous awards for its beers, including recognition for its Pale Ale.
With the sale, Melton hopes to see someone from the local community take over and maintain the brewery to preserve Arkansas’ oldest brewhouse. The brewery’s board, comprising eleven members including Melton and his wife, will make decisions about the future of the business based on the sale outcome.
