Drinks acquisition news : Spanish beer company Mahou San Miguel has struck a deal to acquire a stake of 30% in Avery Brewing, a Coloroado craft brewer, for an undisclosed price as part of its global expansion strategy.
Founded in 1993 by Adam Avery, a home brewing enthusiast, Avery Brewing has distribution of its craft beer products across 33 states in the United States. Its craft beer products include White Rascal Belgian-Style White Ale, Tweak and The Maharaja Imperial IPA.
Commenting on the Mahou San Miguel investment in Avery Brewing, Adam Avery said: “Mahou San Miguel emphatically checked all of those boxes for us and is our ideal partner for continued growth, remaining faithful to our beers and our culture.
“It is with great satisfaction that we stand side by side such a respected family company with a dedicated focus on brewing and the future.”
For Mahou San Miguel, the transaction with Avery Brewing will be its second investment in the US with the first being the acquisition of a 30% stake in Michigan-based craft brewer Founders Brewing Company three years ago.
Through the transaction, the two beer companies will look to advance the organic growth of Avery Brewing through investment in innovation and quality. The partners believe that this will allow the craft beer producer to reinforce its footprint across current markets in the US and also enter into new ones, even outside the country.
Eduardo Petrossi – CEO of Mahou San Miguel, commenting on Mahou San Miguel acquisition of Avery Brewing stake, said: “This new alliance, between two family companies, has been possible thanks to the passion we share for beer and tradition and that we have similar values.
“We share the commitment with the communities in which we are present, our long-term vision, concern for the sustainability and well-being of individuals and our aim of doing things right, placing the consumer always at the centre of our decisions.
“This operation strengthens us as the driving Spanish brewer behind the craft sector and will reinforce our positioning in the United States”.
Mahou San Miguel acquisition of Avery Brewing stake is anticipated to be completed in January 2018.
The Spanish beer company has been in business in the US market since the last six years with beer brands like Alhambra Reserva 1925.
Mahou San Miguel, whose beer products are sold across 70 countries, boasts of producing over 70% of the Spanish beer that is consumed worldwide.
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