Updated: Aug 29, 2019
Mahou San Miguel is upping its stake in Colorado’s Avery Brewing, and the Spanish beer company has teamed up with its other U.S. craft brewery partner, Michigan’s Founders Brewing, on the new investment.
Announced today, Mahou, along with Founders, will purchase a 40 percent stake in Avery Brewing for an undisclosed sum.
The newly acquired stake will be combined with Mahou’s original 30 percent minority interest in Avery that was purchased in early 2018.
The deal, which was negotiated over “the last few months,” gives Mahou and Founders a 70 percent controlling interest in the Colorado craft brewery.
Brewery founder Adam Avery and his father, Larry, will own the remaining 30 percent of the business, but executives from Mahou will now play a bigger role in the “day-to-day” decision making, Adam Avery told Brewbound.
“We can use all the expertise we can get,” he said. “There is some crazy shit going on in our industry, and it is awesome to have investors who look at this as a long-term play and not as a short-term, turn-and-burn type of thing.
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