Mahou San Miguel has bought a 30% stake in US craft brand Avery Brewing as it continues its internationalisation strategy.
Through the agreement, both companies aim to promote the organic growth of Avery Brewing through innovation and quality, which will enable it to reinforce its presence in the US and expand overseas.
Based in Colorado, Avery Brewing has products on sale in 33 US states. Its range of beverages includes White Rascal, El Gose, Avery IPA, Lilikoi, and Maharaja.
Mahou San Miguel said the agreement fits within its vision to continue exploring international opportunities with partners who provide their knowledge of local consumers and markets.
Eduardo Petrossi, Mahou San Miguel CEO, said: “This new alliance, between two family companies, has been possible thanks to the passion we share for beer and tradition and that we have similar values.
“We share the commitment with the communities in which we are present, our long-term vision, concern for the sustainability and wellbeing of individuals and our aim of doing things right, placing the consumer always at the centre of our decisions.
“This operation strengthens us as the driving Spanish brewer behind the craft sector and will reinforce our positioning in the US.”
Avery Brewing founder Adam Avery said: “Dad and I decided two years ago that in order to fulfil our vision of the new brewery and all of Avery Brewing’s potential, it made a lot of sense to seek a partner.
“At that time, we established our criteria for our perfect partner: minority investor, privately-held and family-owned entity, long-term investment, strategic advantages, and good people with shared values.
“Mahou San Miguel emphatically checked all of those boxes for us and is our ideal partner for continued growth, remaining faithful to our beers and our culture. It is with great satisfaction that we stand side by side such a respected family company with a dedicated focus on brewing and the future.”
With eight beer production centres – seven in Spain and one in India – Mahou San Miguel employees 3,000 people and makes beers such as Mahour Cinco Estrellas and Alhambra Reserva 1925. In 2015 it bought a 25% stake in Spanish craft beer manufacturer La Salve.
© FoodBev Media Ltd 2018