Market Overview

Michigan's Short's Brewing Company Sells 20% Stake To Heineken

Share:
Michigan's Short's Brewing Company Sells 20% Stake To Heineken
Related HINKY
A Nation Of Shrinking Drinkers: Who Wins And Who Loses As Booze Sectors Contract
Reads For The Weed-Kend: Beyond Marijuana Stocks, New Opportunities Arise With Legalization

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).

“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.

“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

Posted-In: Heineken Lagunitas Brewing Company Short's Brewing CompanyNews Asset Sales Best of Benzinga

 

Related Articles (HINKY)

View Comments and Join the Discussion!