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Fresno’s Full Circle Becomes America’s Largest Black-Owned Brewery via Merger



Full Circle Brewing is merging with Speakeasy Ales and Lagers of San Francisco, the companies announced Wednesday, April 5, 2023. (GV Wire File)
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Full Circle Brewing of Fresno is merging with a San Francisco craft brewer to form the largest Black-owned brewery in the United States, the company said on Wednesday.

Full Circle CEO Arthur Moye announced in a news release that the brewery is merging with Speakeasy Ales and Lagers of San Francisco.

“We are excited to apply what we learned from revitalizing Full Circle and increasing sales by 5,000%, to San Francisco’s longest-running independent brewery. We plan to breathe new life into current brands, and expand its range of products,” Moye said.

Speakeasy is known for traditional beers such as its Big Daddy IPA, Moye said.

Watch: Full Circle Celebrates Black Business Month

Merged Company Can Produce 350,000 Cases a Year

Combined with Full Circle’s 2020 acquisition of Sonoma Cider, the company now has a diverse mix of products and an annual production capacity of more than 20,000 barrels, or 350,000 cases, Moye said.

“I am excited for the passing of the baton to the next generation of Black entrepreneurs in the craft beer space, said Speakeasy CEO Ces Butne. “I will continue to sit on the advisory board, and look forward to seeing the Speakeasy brand grow and evolve.”

Full Circle Seeks Investors

Full Circle Brewing is raising funds from independent investors on the StartEngine platform, where it previously raised more than $1 million through Crowd Equity campaigns.

Moye said that he hopes to close the access-to-capital gap for Black brewers seeking to expand to full-scale production. Those interested in learning more about the campaign can visit

Full Circle’s headquarters is in Fresno’s Brewery District at 712 Fulton St. near Chukchansi Park.


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