Avery Brewing Co. has sold a 30 percent stake to Mahou San Miguel, a Spain-based brewery that has been in the U.S. market since 2011.
According to a press release, the investment will allow Avery to focus on “distributor and retailer relationships, customer experiences, and strategic growth.”
In 2014, Mahou San Miguel purchased a 30 percent stake in Grand Rapids, Mich.-based Founders Brewing Co.
We are the most commitment brewer in Spain with craft beers. So, we are so proud to announce we join @AveryBrewingCo, through the acquisition of a 30% of this North American family brewery. #welcome #craft #familybeers
“Dad and I decided 2 years ago that in order to fulfill our vision of the new brewery and all of Avery Brewing’s potential, it made a lot of sense to seek a partner” said Adam Avery, Avery founder, in a press release. “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.”
Founded in 1890, Mahou San Miguel is a 100 percent Spanish-owned company that owns eight beer production centers and three bottling plant employing more than 3,000 people. In addition to Founders, the company includes the brands Mahou Cinco Estrellas, San Miguel Especial and Alhambra Reserva 1925, as well as Solan de Cabras mineral water.
Avery Brewing Co.was founded in 1993 in Boulder, Colo., by Adam Avery and his father Larry Avery and was the third fastest growing Top 50 craft brewery in 2016.
First Beverage Group is the financial advisor to Avery during the process, and the deal is expected to close in January 2018. Financial details of the deal were not disclosed.