Heineken Snaps Up Remaining 50% Stake In LagunitasMay 5, 2017
Heineken N.V. has fully acquired Lagunitas Brewing Co., two years after purchasing a 50% stake in the California craft brewer. Terms of the deal weren’t disclosed. Lagunitas will be an independent entity within the Heineken portfolio, reporting to the Heineken Americas division. Lagunitas founder Tony Magee will serve as executive chairman of Lagunitas and will also advise Heineken’s executive team about the craft beer market. The move will allow Lagunitas to more aggressively expand in the international market, where the company has already seen 160% growth so far this year. The flagship Lagunitas IPA grew 17% to 7 million (2.25-gallon) cases in the U.S. last year, according to Impact Databank, while portfoliomate Little Sumpin’ Sumpin’ rose 26% to 1.8 million cases.Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.