Michigan's Founders Brewing sells to a Spanish company

In 2014, Michigan-based Founders Brewing sold 30% of the company's capital to Spanish brewing group Mahou-San Miguel. This did not attract much attention outside the brewing world. The news is however waves: MiBiz reports that the two founders have sold 90% of the company to the group Mahou-San Miguel, each retaining only 5% of the capital. The founders confirmed the agreement to Take away.

Founders is Canada's 14th largest brewery in volume (larger than Stone, Deschutes or Brooklyn Brewery, for now). Dave Engbers and Mike Stevens founded the brewery in 1997 and have since expanded it to distribute beer in all 50 states. He is known for his IPA session, All Day, as well as his Breakfast Stout, Rubaeus raspberry ale and Dirty Bastard Scotch ale. As the founders grew up, he needed capital, which Mahou-San Miguel provided in 2014 for an amount of about $ 96 million. Now, Stevens tells MiBiz that the additional funds will allow the Founders to repay some of their early minority investors, "including family members of various executives, local businessmen and other investors."

In an official statement provided to Take awaythe brewery stated that daily operations at the brewery and manufacturing hall would remain unchanged.

"The founders will remain autonomous in the management of their activities, their products and their teams," the statement said. "Engbers and Stevens will continue to be Founders shareholders and have no intention of leaving."

Mahou-San Miguel also owns a majority of Avery Brewing in Boulder, Colorado, but the founders say there is no plan to consolidate the companies. The company also notes that the sale is subject to regulatory approvals.