Spanish brewer Mahou San Miguel has enhanced its presence in the US craft beer market by acquiring a majority stake in craft beer producer Avery Brewing.
Mahou San Miguel and another one of its US-based craft beer partners, Founders Brewing Company, have together purchased a 40% stake in Avery for an undisclosed figure. Mahou San Miguel previously owned a 30% stake in Avery, so the latest purchase gives Mahou and Founders a 70% stake in the brewer.
Mahou also owns a 30% stake in Founders Brewing Company, which was ranked by craft beer trade group the Brewers Association as one of the largest beer companies in the US.
According to Mahou, the US is one of its key target markets, and the purchase will allow both Mahou and Avery to grow their brands and help stimulate the growth of the craft beer segment.
To achieve this, Mahou says it will invest in Avery’s marketing and commercial development to boost the profile of its craft beer range, which includes beers such as White Rascal, Real Peel IPA and Liliko’i Kepolo.
This purchase forms part of a concerted effort by Mahou to expand its presence in the craft beer segment. This strategy saw the company invest €11 million to build a BrewHub in Córdoba, Spain, earlier this week, which serves as a collaborative space for craft breweries to share ideas and develop their beers.
Alberto Rodríguez-Toquero, general director of Mahou San Miguel, said: “This agreement reinforces our business in the United States, a market that is leading the craft revolution and that fits perfectly with our capacity for innovation and passion for beer culture.
“For us, it is another step that brings us closer to realising our vision of becoming a benchmark in the craft and premium segment nationally and internationally.”
Founders Brewing co-founder and CEO Mike Stevens added: “Avery Brewing is one of the pioneer artisans of the Western United States and the Avery have been our friends and confidants for several decades.
“Our industry needs people who want to focus on the legacy and creation of multigenerational breweries Avery Brewing’s dedication to quality speaks volumes about what all of us, as craft brewers, have built over the years.
“We are proud to be a part of this legacy and hope to have a great future together.”
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