Mocama Holdings LLC is a limited liability corporation registered with the Florida Department of State Division of Corporations. Mocama Brewing Company, Inc., a Florida Benefit Corporation, is a wholly owned subsidiary of Mocama Holdings LLC. Mocama Holdings will own all of the assets of the brewery, including but not limited to the equipment, land, and intellectual property. Mocama Brewing Company will serve as the operating company for the brewery, and its Board of Directors will be identical to Mocama Holdings Board of Managers. Separating the operating company from the holding company enables pass-through tax treatment for the investment company and provides a level of asset protection between the two entities.
In 2014, Florida enacted the Benefit Corporation Law, allowing Florida for-profit companies committed to social good to incorporate as “benefit corporations”. This new legal status provides protections for board members from investor suits and signals to investors and consumers that a company is committed to societal benefit programs. Benefit corporation designations allows companies to consider society and the environment in addition to profit in their decision making process. This is often referred to as the triple bottom line of profits, people, and the planet. The choice to be registered as a benefit corporation has no effect on our tax status.
The founders of Mocama have a strong desire to build a brewery that has a material positive impact on our community and the environment while also being exceptionally profitable. Mocama will market our focus on environmental and social responsibility, appealing to consumers who consider these factors in their purchasing decisions. Having the legal status of a benefit corporation and its associated accountability shows that the company is truly committed to its causes. From a human resources perspective, Mocama will enjoy increased employee engagement, improved employee morale, reduced turnover, and greater appeal to top industry talent. Registration as a benefit corporation will be of particular interest to millennial workers hoping to balance career with community, global, and environmental service.
“B Corp is a certification that helps consumers idenitfy changemakers, and investors make money and make a difference, creating a new kind of company that serves society and shareholders, leading a global movement of people using business as a force for good.”
Mocama will apply for B Corp certification from B Lab. B Corps are for-profit companies certified by the nonprofit B Lab to meet rigorous standards of social and environmental performance, accountability, and transparency. This certification is to business what Fair Trade certification is to coffee or USDA Organic certification is to orange juice. Unlike traditional corporations, B Corps are legally required to consider the impact of their decisions not only on their shareholders, but also on their stakeholders (e.g., workers, suppliers, community, consumers, and the environment).Today there are 2,326 Certified B Corps from 50 countries and over 130 industries working to redefine success in business. This certification inspires us to compete not only to be the best in the world, but to be the best for the world. Through a rigorous review and inspection process conducted by the B Lab, Mocama will be required to meet higher standards of social and environmental performance and ensure that these standards are comprehensive and transparent. Every year, Mocama will prepare a report assessing its social and environmental performance against a third party standard. This report will be publicly available. Our commitment to helping our community and respecting the needs of our own workforce are a few of the many elements that we believe will make our company special. Every decision made at Mocama, no matter how small it may seem, will be made with a conscious mind. As we grow and our impact on the world becomes inevitably larger, we will continue to search for ways to minimize and eventually eliminate the footprints we leave behind. The Certified B Corp logo will be prominently and appropriately displayed on all our packaging, marketing, and throughout our brewery.
The founders of Mocama see a future in which every American knows and cares about employee ownership — where employee ownership is seen as key to creating a strong and sustainable economy. In this future, millions of consumers and businesses prefer goods and services from employee-owned companies because they associate them with high-quality products and customer experiences. The most talented employees will work at employee-owned companies because they know they’ll be highly valued and well compensated. Governments will give preferential status to employee-owned companies because they understand that it is a critical part of creating a thriving and stable local economy. Employee-owned companies inherently care more about the customer experience and create significant wealth over time for their workers.
Employee ownership is a logical extension of the company's values and culture. Mocama will foster a highly collaborative work environment that prioritizes the well-being of its employees, continuous innovation, the exceptional quality of its beer and brand, and an unwavering commitment to business ethics. A company is employee-owned when its employees own a significant and broad-based ownership stake. Significant means that employees own at least 30% of the business. Broad-based means that meaningful access to ownership is open to every employee and concentration of ownership is limited.
Mocama hopes to establish an employee stock ownership plan (ESOP) as soon as all capital is returned to investors. In addition to all of the benefits of employee ownership mentioned above, establishing an ESOP will provide liquidity to initial investors who are looking to exit some or all of their investment in the Series A Preferred.
Mocama plans to become a member of 1% For the Planet, a global movement inspiring businesses and individuals to support environmental solutions through annual membership and everyday actions. Certain products we produce will be marketed with a significant focus on the fact that 1% of the total sales revenue they generate will be donated to environmental organizations. The 1% For the Planet logo above will be prominently displayed on their packaging and associated merchandise. The organization was started in 2002 by Yvon Chouinard (founder of Patagonia) and Craig Mathews (founder of Blue Ribbon Flies). Both successful entrepreneurs, they recognized the power of collective action to protect the environment. 1% For the Planet collaborates with business members to identify environmental organizations that will have the greatest impact and align with our goals. They certify that every dollar contributed goes to a vetted, trusted nonprofit. Their members have given hundreds of millions of dollars to the environment, and their nonprofit partners are doing the hard work of restoring our planet for the future. The goal is to significantly increase the overall amount of global dollars going to help protect the planet with the smartest donations possible. Mocama will engage directly with approved nonprofit partners, providing financial donations, volunteer time, in-kind donations, and other shared-value collaborations. Our affiliation with 1% For the Planet improves our brand equity with our customers and allows us to do well by doing good. While consumer loyalty is difficult to quantify, we feel strongly that our customers will associate Mocama with the values they believe in. As we create campaigns that are doing good for the environment and our community, the Mocama brand will become more desirable to consumers.
In an effort to educate beer lovers about which beers are independently produced, the Brewers Association recently launched a new seal touting independent craft brewers. Featuring an iconic beer bottle shape flipped upside down, the seal captures the spirit with which craft brewers have upended beer, while informing beer lovers they are choosing a beer from a brewery that is independently owned. These breweries run their businesses free of influence from other alcohol beverage companies which are not themselves craft brewers. Independence is a hallmark of the craft brewing industry, and it matters to the brewers who make the beer and the beer lovers who drink it. A recent study commissioned by Brewbound and conducted by Nielsen found that “independent” and “independently owned” strongly resonated with the majority (81 percent) of craft beer drinkers. Increasingly, they are looking for differentiation between what’s being produced by small and independent craft brewers versus Big Beer and acquired “faux craft” or “crafty” brands. Beer drinkers, especially Millennials and Generation Z, expect transparency when it comes to their food and beverages. That transparency and underlying ownership can drive their purchase intent.
At Mocama we find immense value in our independence. Our brewery will be a gathering place, a career for perhaps 125 people, a site of innovation, and a philanthropic organization that supports our home on Amelia Island and the communities that support our brand. Being independent will allow us to grow at our own pace, ensuring we never stray from our chosen path. Most importantly, we will have full control over the culture of family and inclusion in our brewery- something that is as important to us as the quality of the beer we brew. Independence is about more than beer, and we will enjoy its benefits every day. For this reason, we will display the Independent Craft Seal prominently on all our packaging, communications with customers and the press, and wherever appropriate throughout our brewery and on our merchandise.