Heineken Obtains 50% Stake In Booming LagunitasSeptember 9, 2015
Heineken has acquired a 50% stake in Lagunitas Brewing Company, one of the U.S. market’s biggest and fastest-growing craft brewers. According to Heineken, the deal—which is expected to close in the fourth quarter—will give the Dutch brewer a “strong foothold” in the craft brewing segment, while providing Lagunitas with the means to expand internationally. While the price wasn’t disclosed, last month Reuters reported that the Petaluma, California-based Lagunitas was exploring the sale of an equity stake that would value it at around $450 million.
Led by Impact “Hot Brand” Lagunitas IPA, Lagunitas is on pace to grow by nearly 50% this year, Tony Magee—who founded the craft brewer in 1993—recently told SND. Such progress would put Lagunitas around the 1-million-barrel threshold. Magee will continue as Lagunitas executive chairman.
With demand rising rapidly, Lagunitas has been in expansion mode of late. Little more than a year after opening a brewery in Chicago, Lagunitas—the sixth-largest craft brewer in the country, according to the Brewers Association—recently began building its third brewery, in Southern California.Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.