It’s been quite the week for craft beer. Yesterday, Wicked Weed Brewing Company out of North Carolina, announced that they had agreed to terms on a buyout from Anheuser-Busch. Today brings news that California’s Lagunitas Brewing Company has agreed to selling it’s remaining 50% interest to Heineken International.
In September 2015, Lagunitas sold 50% stake in the brewery to Heineken with plans on making Lagunitas an international brand. Now, after apparently having grown an immense mutual trust and respect for one-another, Lagunitas founder Tony Magee has agreed to sell his remaining shares. Based off Magee’s statement, the plan is still heavily focused on the international market and making Lagunitas a global brand: “During the 19 months of our partnership we have come to trust and truly believe in each other. Through that we have found ourselves aligned on how to bring the vibe of U.S. craft-brewing to beer lovers everywhere. Only by fully committing to this relationship can we both respond to the historic opportunity that awaits us in all 24 time zones.”
No terms on the deal have been released, but the brewery was valued at $1 billion during the sale of the initial stakes. Tony Magee will be staying on with Heineken International and serve as the Director of Global Craft, a title that insinuates more buyouts are in the works.