Spirit Cruises January 2023 Leaderboard

Lagunitas Sells Second Half of Stake to Heineken

by Alexander Frane on May 17, 2017 in Beer

Lagunitas Brewing has announced that it will be selling the last 50% of its stake to Heineken International, The Chicago Tribune reports. The California and Chicago based brewery had sold its first half of stake to Heineken in early 2015, but will now be selling the rest, making it fully owned by the Dutch beer company. The move was prompted by a desire to “...accelerate growth and opportunities for Lagunitas,” founder and executive chairman Tony Magee told the Tribune.

Heineken is currently the second largest beer company in the world after AB InBev acquired SAB Miller in 2015. Large breweries buying up smaller ones is a common story these days, and it’s little surprise that Lagunitas would end up selling the full stake after it sold the first half. In a Tumblr post, Magee wrote, “Some who don’t fully understand it all may say it is selling out. Truth is that we did then, and are now ‘buying in’… Money has value and equity has value too. I am using Lagunitas’ equity to buy deeper into an organization that will help us go farther more quickly than we could have on our own.” Magee will be staying with the company, moving from his position as executive chairman to global craft director for Heineken.

The original sale of stake was set to roughly $500 million, but the price on this most recent sale has to yet to be announced.

Photo via Flickr user amseaman

Recent Articles
spacer

Feedback

How are we doing? Tell us what you like or don't like and how we can improve. We would love to hear your thoughts!

*Name:
*E-mail:
*Suggestions:
 
Best Bars for Outdoor Drinking in Philadelphia, 2024

Best Bars for Outdoor Drinking in Philadelphia, 2024

We've got your definitive list of where to drink outside in Philadelphia...read more ›

by Drink Philly Apr 9, 2024
Philadelphia Distilling Launching Secret Pop-Up Cocktail Garden for Earth Day, April 11-21

Philadelphia Distilling Launching Secret Pop-Up Cocktail Garden for Earth Day, April 11-21

Philadelphia Distilling is transforming their fourth floor space into a secret garden to celebrate Earth Day, ...read more ›

by Drink Philly Apr 9, 2024
The Drink Nation Presents: The Home Bar Project

The Drink Nation Presents: The Home Bar Project

Have you ever dreamed of having an amazing home bar, filled with bottles you actually use and the tools you need to execute a fine crafted cocktail? E...read more ›

by The Drink Nation Nov 14, 2014
SPONSORED
Spirit Cruises January 2023 Desktop Bottom Rectangle 1
Dizengoff: Inside Look at the New Reimagined Restaurant, Bar, & Cocktails

Dizengoff: Inside Look at the New Reimagined Restaurant, Bar, & Cocktails

Last year, Dizengoff and Abe Fisher decided to join forces and embark on an exciting new chapter. After closin...read more ›

by Drink Philly Mar 5, 2024
Behind the Bar: Tom Foy of Butcher Bar

Behind the Bar: Tom Foy of Butcher Bar

In this installment of Behind the Bar, we sit down with bartender Tom Foy of Butcher Bar...read more ›

by Drink Philly Feb 19, 2024
48 Record Bar: An Inside Look at an Audiophile's Listening Room & Cocktail Bar

48 Record Bar: An Inside Look at an Audiophile's Listening Room & Cocktail Bar

48 Record Bar is the newest addition to the growing Listening Room trend in Philadelphia...read more ›

by Drink Philly Feb 19, 2024
The Best Cocktail Bars in Philadelphia

The Best Cocktail Bars in Philadelphia

In a city with new bar openings every week, it can be hard to keep up with the everchanging Philly cocktail landscape. Don't worry, we've got you cove...read more ›

by Drink Philly Dec 14, 2023
Best Bars for Outdoor Drinking in Philadelphia, 2023

Best Bars for Outdoor Drinking in Philadelphia, 2023

We've got your definitive list of where to drink outside in Philadelphia...read more ›

by Drink Philly May 27, 2023
Pamper Yourself at These Spas with Bars in Philadelphia

Pamper Yourself at These Spas with Bars in Philadelphia

Whether you're going solo or heading out with friends, we've got just the place for your to relax and enjoy a good drink...read more ›

by Jessie Donofrio Apr 5, 2023
The Best Mocktails, Zero Proof, & Non-Alcoholic Drinks in Philadelphia

The Best Mocktails, Zero Proof, & Non-Alcoholic Drinks in Philadelphia

Not drinking alcohol tonight? These bars and restaurants have you covered with inventive, thoughtful, and down...read more ›

by Michelle Cassidy Jan 11, 2023
SPONSORED
Drink Nation Home Bar Project Bottom Rectangle 2
View all Articles

Sign up to get weekly drinking news, bar reviews, events and more sent directly to your inbox!

Close