Surging Craft Brewer Lagunitas Said To Be Exploring Stake SaleAugust 5, 2015
Lagunitas Brewing Company, which recently told SND it’s on pace to grow nearly 50% this year, is exploring the sale of an equity stake that would value the craft brewer at around $450 million, according to Reuters.
The Petaluma, California-based Lagunitas has been working with Wells Fargo to explore an array of strategic options for the past few months, reports Reuters, as chief executive Tony Magee seeks backing to further expand the fast-rising business. One such option is the potential sale of an equity stake.
Lagunitas, which Magee founded in 1993, is ramping up production to keep pace with surging demand. Just over 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 facility in its native Southern California.Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.