Heineken has agreed to buy out the remaining shares in California’s Lagunitas Brewing Company, two years after acquiring a 50% stake.
Since acquiring half of the company in 2015, Heineken has helped Lagunitas Brewing to expand its international presence, including launching in new markets such as France, Mexico, Italy and Spain, and extending the brand’s availability in existing markets like the UK, Canada, the Netherlands and Japan.
The time is ripe for Heineken to take full control; Lagunitas Brewing has consistently outperformed the US beer market, where craft offerings now make up roughly 11% of all products.
Heineken chairman and CEO Jean-François van Boxmeer said: “Our partnership with Lagunitas has been a great success and today’s announcement marks the next stage of an exciting journey. We look forward to accelerating the rollout of the Lagunitas brand to many more markets, and sharing Lagunitas craft beer with many more consumers around the world.”
It’s the second deal in almost a month for Heineken, which acquired South African craft brewery Stellenbrau at the end of March.
In order to retain Lagunitas Brewing’s culture and spirit, founder and executive chairman Tony Magee will remain with the company as executive chairman, and Lagunitas will continue to operate as an independent entity within Heineken.
Magee said: “During the 19 months of our partnership we have come to trust and truly believe in each other. Through that we have found ourselves aligned on how to bring the vibe of U.S. craft-brewing to beer lovers everywhere. Only by fully committing to this relationship can we both respond to the historic opportunity that awaits us in all 24 time zones.”
The deal has already been finalised. Both Heineken and Lagunitas have agreed not to disclose the purchase price.
© FoodBev Media Ltd 2019