USA: Spanish market beer leader buys majority in Colorado craft brewer

Mahou San Miguel, Spain’s leading brewing company which dominates about one third of the beer market in its country increases its stake in Avery Brewing Co. in Boulder, Colorado, from 30 percent to 70 percent. The remaining 30 percent remains with brewery founder Adam Avery and his father Larry.

The 40 percent stake will be acquired by Mahou, along with Founders Brewing Co., a leading U.S. craft brewer from Grand Rapids, Michigan, in which the Spanish brewer holds since 2014 a 30 percent stake.

Being a majority owner in Avery will allow Mahou and Founders to create greater synergies like cross brewing or shared buying initiatives. Within the next two months Avery will use part of their idle capacity in this context to start brewing and co-packing FoundersAll Day IPA, a low alcohol session beer which is Founders’ most successful product, accounting for over 50% of their sales. The beer produced in Boulder is destined for distribution in the western part of the U.S.

While the partners will cooperate on the technical side, sales forces will be kept separate, according to the plan. “The objective of this deepening investment is to continue promoting the organic growth of Avery Brewing, strengthening its position in Colorado and expanding its brand presence in the U.S.,” Avery said in a press statement today. “The three companies will continue to focus investment in areas such as Sales, Marketing, and National Accounts, and will continue to develop a portfolio that combines quality, innovation, and creativity, led by its most emblematic brand: White Rascal.” White Rascal is a brand by Avery Brewing and is an authentic Belgian style white ale, which is unfiltered and spiced with coriander and Curaçao orange peel.

“Avery Brewing Company is one of the original western craft breweries and the Averys have been friends and confidants for several decades,” said Founders Co-Founder and CEO Mike Stevens. “Our industry needs folks that want to focus on legacy and building multi-generational breweries and Avery’s dedication to quality speaks volumes to what we all as homebrewers once started. We’re proud to be a part of this legacy and look forward to a great future together.”

“This agreement strengthens the development of Mahou’s business in the United States, a market that is leading the craft revolution and which fits in perfectly with our capacity for innovation and passion for beer culture. For us, this operation represents another step that will bring us closer to achieve the leadership of family brewers in the craft and Premium sector at national and international level”, asserts Alberto Rodríguez-Toquero, Chief Executive Officer at Mahou San Miguel.

Members of the Mahou family founded the Hijos de Casimiro Mahou brewery in Madrid in 1890. In 2000, Mahou bought the remaining 70 percent it didn’t already own in the San Miguel brand from French multinational food company Danone Group, creating Mahou San Miguel. In 2004 it added the Cervezas Anaga and its Reina brand from the Canary Islands to its portfolio, followed in 2007 by Cervezas Alhambra. It furthermore diversified its business by purchasing mineral water company Solán de Cabras in 2011 and Aguas del Valle de La Orotava in 2018 (, 11.4.2018).

Mahou San Miguel is a 100% Spanish-owned family company. Jose Antonio Mahou Herraiz, a seventh generation family member, is the group chairman. The group is the category leader in the country with a production share of 34%. It produces from nine breweries, eight in Spain and one in India, four water springs with packaging plants, and a professional team of more than 3,200.

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