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News
Mahou San Miguel invests in US craft
Spanish-owned brewer Mahou San Miguel has acquired a 30% stake in the US craft beer company Founders, tapping into the fast-growing market in a bid to “lead innovation in brewing trends worldwide.”
(L-R) Mike Stevens, CEO of Founders; Javier López del Hierro, President of Mahou San Miguel; and David Engbers, President of Founders
The partnership will give Founders access to Mahou’s international distribution network which spans more than 50 countries.
Javier López del Hierro, President of Mahou San Miguel, said: “We see our investment in Founders as a great source of learning, innovation and transformation for Mahou San Miguel in the hugely attractive and innovative market that USA represents, which is indeed the beer market of more value worldwide. A market which sets consumer trends, with huge prospects for growth to which our company and our brands have much to contribute. Founders is using its know-how, which combines product and commercial excellence, to stand out in the high-value beer segment which now represents 15% of overall sales in the USA, growing by 20% per year.”
Founders Brewing Co. was established in 1997 in Grand Rapids, Michigan and currently distributes beer in 32 US states.
Mike Stevens, co-founder and CEO of Founders, said: “First of all, we knew that taking on a partner was the necessary, responsible thing to do for the future of Founders because it would afford us new opportunities for growth as well as ensure our legacy for years to come. We spent a long time determining who would be the best partner to help us grow Founders while staying true to our beers and our culture. Mahou shares our family values, a commitment to their communities and the importance of long-term partnerships. We are honored to be entering into a partnership with a brewer that commands so much respect and with such a focus on brewing excellence.”
Mahou San Miguel has had a presence on the US market since 2011, with its Mahou Cinco Estrellas and Alhambra Reserva 1925 brands achieving particular visibility in Florida.
The deal is subject to final approval by the US authorities.