Spain: AB InBev buys craft brewer La Virgen

AB InBev announced today the purchase of Spanish craft brewer La Virgin through its venture capital arm ZX Ventures at an undisclosed sum. La Virgen was founded in 2011 in Spain’s capital Madrid through a group of young entrepreneurs led by Jaime Riesgo, who got his idea by working one year as a consultant for startup companies in San Francisco.

After having spent €2 million in investments in 2015 the brewery moved to a new site with a production capacity of 40,000 hl and had a turnover of €1.5 million. The brewery serves more than 600 restaurants, bars and hotels in the Madrid area and sells its 6 different types of beer through retail outlets like Aldi, Carrefour, El Club del Gourmet-El Corte Inglés and Vips.

La Virgen, which will keep its independency, its positioning and its values, will gain access to AB InBev’s distribution channels to support the national and international expansion of the brand.  Within ZX Ventures, La Virgen will be part of AB InBev’s craft beer portfolio which consists of brands like Goose Island, Camden Town, Birra del Borgo and Bogotá Beer Company.

 

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