Spanish brewer Mahou San Miguel has acquired a 25% stake in the Bilbao-based craft beer manufacturer La Salve, as it seeks to develop a leading position in the craft movement.
The transaction will allow La Salve to fulfil its plan of investing €3m over the next four years and constructing a new facility in Bilbao, as the craft producer seeks to increase its share of the Basque market to 10%.
The acquisition develops Mahou San Miguel’s strategy of developing its position in the craft beer sector. In December, the Madrid-based company acquired a 30% stake in US craft beer company Founders, claiming the acquisition would provide “a great source of learning, innovation and transformations… with huge prospects for growth”.
La Salve director Jon Ruiz said: “This agreement was possible because both companies share values such as authenticity, tradition, product excellence and commitment to the communities in which we operate.”
“We’re both family businesses, centenarians; we know the perfect combination of history and modernity and we have a clear vocation for the future. This agreement is a very important moment for us that… marks a very ambitious future for our brand.”
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