Heineken Brewing Co. now owns 100 percent of Lagunitas Brewing Co.
According to a press release, Heineken has purchased the remaining shares in the Petaluma, Calif.-based brewery, and Lagunitas will continue to operate independently and will report to the Heineken Americas Region. In addition, Tony Magee, the founder of Lagunitas, will remain active as executive chairman of the brewery.
“During the 19 months of our partnership we have come to trust and truly believe in each other,” said Tony Magee, founder and executive chairman of Lagunitas, in a press release. “Through that we have found ourselves aligned on how to bring the vibe of U.S. craft-brewing to beer lovers everywhere. Only by fully committing to this relationship can we both respond to the historic opportunity that awaits us in all 24 time zones.”
Since Heineken acquired a 50 percent stake in the brewery in 2015, Lagunitas has sold over 1 million hectoliters of beer and has entered a number of new markets around the world, including the United Kingdom, Canada, Netherlands, Sweden and Japan.
Financial terms of the deal were not disclosed.