All you big booze sellers better pay attention. The trend that saw regional craft brewers upend the beer industry is now playing out in the spirits arena, said Steve Shum, chief financial officer of Eastside Distilling (ESDI) . Some of the major alcohol producers are in fact taking notice. For example, Corona beer and Robert Mondavi wine maker Constellation Brands (STZ) agreed to pay $160 million in October to buy High West Distillery. Shum expects more M&A in 2017. Eastside Distilling is located in Southeast Portland's Distillery Row, and has been producing master crafted spirits since 2008. Eastside's line-up includes Barrel Hitch American Whiskies, Burnside Bourbon, Below Deck Rums and Portland Potato Vodka. The company currently distributes its products in 20 states and was recently cleared to sell its spirits in China. Last month Eastside reported a gross sales increase of 62% to $796,000 during the third quarter of 2016, compared to $492,000 the prior year. Net sales, excluding excise taxes, for the third quarter increased 73% to $607,000 compared to the third quarter of 2015.

More from Video

Why Jim Cramer Isn't Surprised By the Jobs Report

Why Jim Cramer Isn't Surprised By the Jobs Report

What to Expect From the Markets in 2019 According to an Abbott Downing Executive

What to Expect From the Markets in 2019 According to an Abbott Downing Executive

Facebook Could See More Volatility -- How to Own the Stock

Facebook Could See More Volatility -- How to Own the Stock

Facebook 'Needs to Fire' Sheryl Sandberg Says Jim Cramer

Facebook 'Needs to Fire' Sheryl Sandberg Says Jim Cramer

Trading Strategies: Understanding the Markets Going Into 2019

Trading Strategies: Understanding the Markets Going Into 2019