After purchasing a 30 percent stake in Founders Brewing Co. back in 2014, Mahou San Miguel is increasing its ownership to 90 percent of the Grand Rapids-based brewery.
In a deal that is expected to close in January 2020, the Spain-based Mahou San Miguel will buy out more than 20 minority shareholders, while Founders co-founders Dave Engbers and Mike Stevens will each keep five percent of the business.
“Since 2014, we’ve enjoyed an excellent relationship with Mahou Group,” reads a statement from Founders. “We’re fortunate to have a partner with whom we can exchange brewing knowledge and business strategy, who also reflects our values as a company. Day-to-day operations will continue to be led by the existing Founders team. We’ll continue to make the beers we love and have a partner in Mahou Group, who is just as passionate about beer and the future of Founders as we are.”
The Brewers Association states that Founders produced 563,179 barrels of beer in 2018 and is the 14th largest overall brewing companies in the U.S. based on beer sales volume. In addition, the brewery announced last month that with the addition of Hawaii, its beers are now being shipped to retailers in all 50 states.
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 and a majority stake in Avery Brewing Co., the company includes the brands Mahou Cinco Estrellas, San Miguel Especial and Alhambra Reserva 1925, as well as Solan de Cabras mineral water.
According to Founders, there are no plans in place for Mahou San Miguel to buy out the remaining stakes, nor are there are plans to brew any of the company’s other brands at the Founders facility.