According to a story on Brewbound.com, Dogfish Head Brewery has announced that it has sold a 15 percent stake of the company to New York-based private equity firm LNK Partners. The move comes after the Milton, Del.-based brewery recently completed a $50 million expansion project.
Founded in 1995, Dogfish Head is the 13th largest brewery according to the Brewer’s Association, and is scheduled to produce more than 175,000 bbls of beer this year. Last month, the brewery also announced it would be producing Dogfish Head branded rum, gin and vodka out of a distillery located inside the Milton location.
While specific financial terms of the deal were not disclosed, LNK will take over one of the five seats on Dogfish Head’s board of directors.
The announcement follows a rash of craft beer acquisitions in the past couple of months, including Lagunitas Brewing Co. selling a 50 percent stake to Heineken Brewing Co., Saint Archer Brewing selling a majority stake to MillerCoors and Golden Road Brewing being sold to Anheuser-Busch.
Multiple emails and phone calls to Dogfish Head for comment were not returned.