Week in Review, Sept. 19-23: Faubourg Merger, Miss Universe in N.O. and More

Beads Cheers

NEW ORLEANS — Faubourg Brewing Company has announced that it has merged with Made By The Water, owner of craft breweries in Florida and South Carolina that distribute to six Southern states. The company will move its headquarters to the Faubourg Brewery facility in eastern New Orleans in a move that is expected to create new brewing, manufacturing and administrative jobs. Faubourg said the union will allow it to continue to brew its full line of products while strengthening its distribution network. “This merger is about making New Orleans the cultural hub of the craft beer industry in the southeast,” said Gayle Benson, Faubourg owner. “Our partnership allows us to grow the Faubourg brand and bring in a partner that is a leader in building craft beer brands. I pride myself on making New Orleans first, and I think we can bring all of the best in craft beer from these historically strong craft beer areas in the southeast and make New Orleans the primary focus of the industry. Our goal is to help New Orleans become as well known for its beer as it is for its cuisine and to see the local craft beer industry continue to grow and create quality jobs.”

Here are more of the week’s top business stories:

The current home of Peter Mayer Advertising is for sale. Earlier this week, Corporate Realty announced it is representing brothers Mark, Eric and Josh Mayer in the sale of 318-320-324 Camp Street, a 38,729-square-foot property that consists of three buildings located a block and a half from Poydras Street and two blocks from Canal Street and the French Quarter. The move follows two years of big changes at Peter Mayer, the state’s largest ad agency which claimed $82 million in billings in 2021. In 2020, then co-owners Mark and Josh Mayer named EVP and Chief Strategy Officer Michelle Edelman the new agency president. Then, in early 2022, the Mayers sold the business to Edelman outright. This week, the brothers announced that they plan to sell the three historic buildings on Camp Street that have been home to the Peter Mayer Advertising offices since 1979. “We planned to move at the change of ownership [earlier this year] and put in an 18-month lease to get our strategy and the move together,” said Edelman. “We are exploring options for our next location, and our plan is to downsize square footage reflective of our hybrid work culture while still maintaining our vibrancy as an agency. We are committed to keeping our headquarters in New Orleans and building this area as a hotbed of creativity.”

The Miss Universe Organization has announced that the 71st Miss Universe competition will be Jan. 14, 2023 at the Morial Convention Center. “There is no place like New Orleans. This vibrant city has been at the top of our list to host for quite some time due to its rich cultural history, as well as its unique arts, entertainment, and culinary scene,” says Paula Shugart, president of the Miss Universe Organization, in a press release. “I look forward to our delegates from all over the world getting to experience all it has to offer.” The event will feature almost 90 women from around the globe vying for the job of Miss Universe, through the process of personal statements, in-depth interviews and various categories including evening gown and swimwear.

Dallas-based Q Clothier and Rye 51, a dual concept men’s store, has opened a retail space in Canal Place. “The move to Canal Place has been a game changer for our business. The sophisticated shopping center generates great traffic, especially with the business towers and hotel attached,” said Q Clothier and Rye 51 Founder and President Raja Ratan in a press release. “It is our first time to open a store within an indoor shopping mall, and our experience has been outstanding so far.” Q Clothier is an upscale men’s custom clothier that touts its “top quality, hand-crafted attire tailored perfectly for individuals of every lifestyle, with personal style guidance from seasoned experts.”

This week, the International Economic Development Council selected Greater New Orleans Inc. as the Economic Development Organization of the Year, with a “Gold” designation for communities over 500,000 residents. This global award was distributed during the organization’s 2022 Annual Conference in Oklahoma City, and is the highest organizational honor given during IEDC’s Excellence in Economic Development Awards. … Meanwhile, JEDCO, St. Tammany Corporation and Louisiana Economic Development also had big wins this week.

Entergy Louisiana has received approval from the Louisiana Public Service Commission to grow its portfolio of renewable power by adding 475 megawatts of new-build solar generating capacity, which will nearly triple the company’s total renewable generating capacity in the state. The commission also approved the company’s Geaux Green option, a new green tariff – the first in the state – that will provide customers the “opportunity to subscribe to, and get benefits from, renewable energy resources,” said a spokesperson for the utility.

Mallard Bay, an online marketplace for booking guided hunting and fishing trips with vetted outfitters and charters, announces the closing of its $1.8 million funding round led mostly by angel investors. “We are truly humbled to see such high-level traction for the platform with investors who believe in what we are doing,” said Logan Meaux, the startup’s co-founder and CEO, in a press release. The Louisiana State University student-founded company secured funding from major investors such as the Softeq Venture Studio, the Callais family, Varco Investments and the Rio Grande Valley Angel Network. One of those angel investors is Chris Meaux, founder of Waitr (now ASAP) and chairman and co-CEO of BoomNation.

Categories: A Week In Review, Today’s Business News