Mahou Group, the leading Spanish brewer, has upped its stake in the US-based craft beer maker Founders Brewing, increasing its holding to 90%, according to reports in Food Business African and FoodBev.
Mahou Group originally took a 30% stake in the Michigan craft brewery in 2014 with a $96 million investment.
Commenting on the deal, Founders Brewing president and co-founder Mike Stevens said: “We are fortunate to have a partner with whom we can exchange brewing knowledge and business strategy, who also reflects our values as a company. We built Founders with legacy in mind and, by partnering with Mahou, a family-owned, 129-year-old brewer, we will set the course together for future generations to come”.
Mahou Group managing director Alberto Rodriguez-Toquero added: “Founders is the company’s best possible partner whose authenticity, values and extraordinary beers. With this new agreement, we are consolidating our position as the most advanced Spanish brewer in promoting the craft world and strengthening our commitment to becoming global in this segment”.
Founders Brewing beers are present in all US states and in more than 30 international markets.
Source: Food Business Africa / FoodBev