Mahou Group has increased its stake in Michigan-based craft beer maker Founders Brewing to 90%.
The Spanish company, which has held a 30% stake in Founders since 2014, drew attention to the brewer’s “diverse portfolio” of beers, which includes All Day IPA and Breakfast Stout.
Founders Brewing was formed in 1997 by Mike Stevens and Dave Engbers, who remain as shareholders and will continue to lead its management team.
According to figures from the Brewers Association, Founders is the 14th-largest craft brewery in the US by volume. Its products are present in all US states and in more than 30 international markets, with significant focus in Italy, Scandinavia, the UK and Spain.
“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 with the best possible partner, Founders, whose authenticity, values and extraordinary beers, we will keep and foster,” said Alberto Rodríguez-Toquero, managing director of Mahou Group.
“In addition to supporting the growth of Founders in the US, we are also developing new distribution to grow our core brands such as Mahou, Alhambra and Solán de Cabras, as the US is a key market in our international strategy.”
Mike Stevens, Founders president and co-founder, added: “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.”
The deal comes after Mahou San Miguel and Founders together purchased a 40% stake in craft beer maker Avery Brewing earlier this year.
© FoodBev Media Ltd 2020
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