27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.
Short’s Brewing Company, the northern Michigan-based craft brewery behind Soft Parade and Huma Luma Licious, is selling a 19.9 percent stake to Heineken-owned Lagunitas Brewing Company.
Lagunitas U.S. Holdings — LUSH — is founded on the principle of building relationships with and supporting regional breweries, Short’s said in Wednesday’s announcement. The Petaluma, California-based company is fully owned by the Dutch brewing conglomerate Heineken N.V. (ADR) (OTC:HINKY).
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
“In keeping with this, Short’s will maintain their individual brand image while gaining additional resources for continued opportunity to invest in Short’s staff, the northern Michigan community and opportunities to push the boundaries of creativity.”
Lagunitas is the ninth-largest brewery in the United States, according to the release. Its international owner Heineken has annual sales of $23 billion and more than 73,000 employees, according to Forbes.
Short’s, based in Bellaire and Elk Rapids, was founded in 2002 and opened its doors in 2004 in a former hardware store in Bellaire, Michigan. It’s now one of Michigan’s largest breweries, and its beers are also distributed in Pennsylvania, Ohio, Indiana, Illinois, Wisconsin and its cider is sold in Colorado, according to the company.
Short’s is owned by husband-and-wife team Joe and Leah Short. The key to Short’s success has been to surround himself with good people, Joe said in Wednesday’s announcement.
Want Private Access to Benzinga Analyst?
Check out the latest strategies our team of experts are using every week so that you can always adapt to the market like the pros!—Get FULL Access to This Week's Webinar Here.
“This partnership with Lagunitas is just another part of evolution in the cycle of our dynamic and growing business,” Short said.
Short’s is far from the first craft brewery to sell an equity stake to an international company. In May, Benzinga spoke with Founders Brewing CEO Mike Stevens. The Grand Rapids-based brewery sold a 30-percent stake to Mahou San Miguel, a Spanish brewery in 2014.
Related Links:
Story Of Bell's Brewery: Larry Bell Grows From Stoner Beer Baron To Craft Beer Icon
Beer Is Still The Undisputed Champ Of Alcoholic Beverages
Image credit: joefoodie, Flickr
27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.