Subject category:
Entrepreneurship
Published by:
Stanford Business School
Version: 14 February 2011
Length: 10 pages
Data source: Field research
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Abstract
After opening the first Gordon Biersch brewery restaurant in July 1988 in Palo Alto, California, Dan Gordon and Dean Biersch successfully built Gordon Biersch into a $20 million company with restaurants in five locations and a small retail beer business. By early 1995, they aimed to open 20 new restaurants throughout the United States by 1999 and to expand the brewing side of the business. To do so, they needed to grow at a much faster pace, which required additional funding and management expertise. Therefore, in November 1995, they accepted an investment of $11.2 million from the Fertitta family. In exchange, Dan and Dean gave the Fertittas majority control of the company. Provides students with an update of what happened at the Gordon Biersch Brewing Co after receiving funding from the Fertitta family in 1995 and up to 2002.
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Abstract
After opening the first Gordon Biersch brewery restaurant in July 1988 in Palo Alto, California, Dan Gordon and Dean Biersch successfully built Gordon Biersch into a $20 million company with restaurants in five locations and a small retail beer business. By early 1995, they aimed to open 20 new restaurants throughout the United States by 1999 and to expand the brewing side of the business. To do so, they needed to grow at a much faster pace, which required additional funding and management expertise. Therefore, in November 1995, they accepted an investment of $11.2 million from the Fertitta family. In exchange, Dan and Dean gave the Fertittas majority control of the company. Provides students with an update of what happened at the Gordon Biersch Brewing Co after receiving funding from the Fertitta family in 1995 and up to 2002.