Spain’s Mahou San Miguel has acquired the remaining stake of US-based Founders Brewing, having owned 90% of the craft brewer since 2020.
The group said the deal helps strengthen its position in a “key territory in the brewery’s internationalisation and diversification strategy”. Financial details of the Michigan-based purchase were not disclosed.
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.
Founders Brewing’s portfolio includes the brands All Day IPA and Mortal Bloom, a hazy IPA launched last year. The brewer has also started expanding into other categories this year such as RTDs through its Devil Spiked brand and non-alcoholic drinks with Hoppy Mood hop water.
Mahou San Miguel’s US operations sit under its Mahou USA unit, which operates three production centres and employs around 500 people.
Last year, the beer business announced that it expects to double its sales in continental Europe in five years, following an investment plan of around EUR50m (US$54.5m) between 2023 and 2027. Currently, its sales outside Spain account for 21% of its total beer business.
The country’s beer production inched up in 2023 by 0.8%, reaching 41.3m litres (+5% compared to 2019), consolidating Spain’s spot as the second-largest producing nation in Europe, behind Germany and ahead of the UK.
