Brewery buying majority stake in company
A local brewery is purchasing a majority stake in an out-of-state brewer.
Grand Rapids-based Founders Brewing Co. has partnered with Spanish brewer Mahou San Miguel, which owns part of Founders, to purchase a 70% stake in Avery Brewing Co. out of Boulder, Colorado.
The transaction is expected to finalize within the next couple of months.
Mike Stevens, co-founder of Founders Brewing Co., said his company is interested in creating a multi-generational legacy and partnering with like-minded brewers.
“We’re interested in building Founders as we leave it to our families,” Stevens said. “We’re looking for breweries that aren’t interested in selling 100 percent of their company.”
Stevens praised Avery Brewing as a pioneer in the craft beer industry. As the industry becomes more competitive, he believes putting together a team of like-minded brewers can create a company that can sustain any economic changes.
“We are convinced that Mahou and Founders Brewing Co. are the perfect partners to grow our brands and our presence in the market through a dedicated focus on sales, marketing, national accounts and Colorado,” said Adam Avery, founder, Avery Brewing Co.
Founders and Mahou will be working closely with Avery Brewing, Stevens said. The intent is to leave Avery autonomous, while sharing best practices.
“We’ve got sophisticated systems that can help Avery identify gaps and take advantage of opportunities,” Stevens said. “We have no real formula put in place on the front end, but we will lead together side-by-side.”
Avery Brewing Co. did not immediately respond to requests for comment at press time.
Avery Brewing Co. was founded in 1993 in Boulder, Colorado.
The brewery’s standout beers include White Rascal Belgian-Style White Ale, Maharaja Imperial IPA and barrel-aged variants like Vanilla Bean Stout.
Mahou San Miguel
Mahou San Miguel is a 100% family-owned Spanish brewing company. It produces more than 70% of Spanish beer consumed worldwide and is distributed in over 70 countries.
The firm’s history dates back more than 125 years, beginning with the birth of Mahou in 1890. In 2000, Mahou acquired San Miguel. In 2004, it added the Reina brand from the Canary Islands to its portfolio, followed in 2007 by Cervezas Alhambra and the purchase of Solán de Cabras in 2011.