Avery Brewing Loses Its Craft Status After Selling 30% Stake To Mahou San Miguel
Just as Founders Brewing did back in 2014, Avery Brewing has done the same thing with signing away 30% of its ownership to Spanish based brewery Mahou San Miguel. In doing so it loses its “craft beer” status as defined by the industry trade group Brewers Association.
Founded in 1993 by Adam Avery and his father Larry, the two have grown this once small brewery into a large player in the craft beer world. A few years ago the brewer expanded to a nice, modern facility in its hometown of Boulder, Colorado. This also happens to be were the Brewers Association is based and now with over 25% ownership from a non-craft brewing entity the brewer has lost its craft brewer designation from the BA.
Since its ties to Founders, Mahou San Miguel has grown the brewing capacity and sales of the Grand Rapids based brewer and will do the same with Avery Brewing. So is this acquisition better than if it came from Anheuser-Busch InBev or MillerCoors? Well the cash register will be the ultimate decision maker.
Here are more details as told by the press release from the Avery Brewing…
Boulder, Colorado, November 28, 2017 – Avery Brewing Co. has announced a partnership with Mahou San Miguel, who is coming on as a minority investor and long-term strategic partner in the brewery.
Avery Brewing and Mahou San Miguel are excited to focus on a continued promotion of organic growth of Avery Brewing in the evolving U.S. Craft Segment. Investments will support Avery Brewing in their recognized obsession for the highest quality craft beers, innovation, distributor and retailer relationships, customer experiences, and strategic growth.
“Dad and I decided 2 years ago that in order to fulfill our vision of the new brewery and all of Avery Brewing’s potential, it made a lot of sense to seek a partner” says Adam Avery, Founder of Avery Brewing. “At that time, we established our criteria for our perfect partner: Minority Investor, Privately Held and Family-Owned Entity, Long-Term Investment, Strategic Advantages, and Good People with Shared Values. 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.”
Eduardo Petrossi, CEO, Mahou San Miguel adds, “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 development and well-being of individuals and our aim of doing things right, placing the consumer always at the centre of our decisions. Avery Brewing stands out due to the excellence of its beers, recognised on numerous occasions, with a focus on tradition, but also innovation, ingenuity and creativity”
First Beverage Group is serving as exclusive financial advisor to Avery Brewing Co. in the transaction. The deal is expected to close in January 2018.
About Avery Brewing Co.
Since 1993, Avery Brewing has been committed to producing eccentric ales and lagers that defy styles and categories. Founded in Boulder, Colorado, by Adam Avery and his father Larry Avery, Avery was the 3rd fastest growing Top 50 craft brewery in 2016. Avery continues its obsession with the perfect beer and perfect beer experience- blending Old World tradition and expertise with ingenuity, creativity and boldness. In addition to the brewery’s most emblematic brands (White Rascal, El Gose, Avery IPA, Liliko‘i Kepolo, and The Maharaja), Avery stands out with its assortment of Barrel-Aged Beers, boundary-pushing IPAs, Belgian offerings, and a steady stream of experimental beers.
For more information, visit www.AveryBrewing.com.
About Mahou San Miguel
Mahou San Miguel is a 100% Spanish-owned family-run company and Spain’s leading brewery. It has eight beer production centers, seven in Spain and one in India, three water springs with their associated bottling plants, and a team of 3,000 professionals. It has a history of over 127 years and a wide portfolio of national beers, including, among others, Mahou Cinco Estrellas, San Miguel Especial and Alhambra Reserva 1925, and also the iconic brand of mineral water Solan de Cabras. It also boasts a wide range of international beers as a result of the agreements entered into with partners such as Carlsberg and Warsteiner.
Mahou San Miguel has been present in the US market since 2011, where its brands Mahou Cinco Estrellas and Alhambra Reserva 1925 enjoy a growing visibility and penetration, particularly in Florida. In 2014, it signed an agreement with the Craft brewer Founders Brewing, located in Grand Rapids, Michigan, in which it acquired a 30% share. Thus, it became a pioneer in Spain, by carrying out a transaction that enabled it to enter into one of the most dynamic and innovative beer markets in the world.
For more information, visit www.mahou-sanmiguel.com.
About The Author
DJ
D.J. is a Portland, Oregon based writer that spent his formative years in the Midwest. With over 25 years under his belt of drinking beer at festivals across America and the world, he has developed a strong appreciation and understanding of craft beer and the industry that surrounds it. He can be found in any of the great breweries or beer bars that make Portland the best beer city in the world. His writing can also be found in the archives of Northwest Brewing News and can be followed on Twitter and Instagram at @hopapalooza.