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Spain & USA: Mahou San Miguel acquires remaining stake in Founders Brewing Co.
Spanish brewer Mahou San Miguel has acquired the remaining stake in US craft beer brand Founders Brewing Co., now owning 100% of the company, Yahoo Finance reported on March 11.
Financial terms of the transaction were not disclosed.
In a statement, Mahou San Miguel said that securing full ownership of the Michigan-based brewer “strengthens its business” in the US, which is a “key territory” in its internationalisation and diversification plans.
The deal, it said, also strengthens its position within the craft beer sector, enabling it to gain “market share across all channels”.
Madrid-headquartered Mahou San Miguel first became a shareholder in Founders Brewing in 2015 and later invested in Colorado-based Avery Brewing, becoming the majority stakeholder in both by 2020.
The company has held a 90% stake in Founders Brewing since 2020.
According to the Mahou Cinco Estrellas brand owner, “Founders Brewing was the fourth brewery in the United States to gain the largest market share in 2024”.
Founders Brewing’s product portfolio includes the brands All Day IPA and Mortal Bloom, a Hazy IPA launched last year. It has also started expanding into other categories this year such as ready-to-drink hard beverages through its Devil Spiked label and non-alcoholic drinks with Hoppy Mood hop water.
The Spanish brewer's US operations sit under its Mahou USA umbrella, which operates three production centres and employs more than 500 people.
Last year, the company is also revealed its plans to grow in continental Europe.
In October, the Mahou Maestra brewer committed €50m ($54m) from 2023 to 2027, looking to double its sales volume in the region, with an emphasis on promoting the San Miguel beer brand.
In 2023, international sales accounted for 21% of Mahou San Miguel’s total sales, marking a “record year” for the company.
Turnover rose 10% to €1.91bn, while net profit grew by 6.1% to €108.3m. Total sales reached 21 million hectolitres, of which 16.2 million were beer.
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