Sapporo USA, producer of Asian beer Sapporo, has signed an agreement to acquire craft beer brand Stone Brewing.
The acquisition will enhance Sapporo’s brewing capacity in the US, increasing production of its branded beers for the domestic market. Meanwhile, Stone Brewing will gain the resources of Sapporo.
Sapporo intends to use Stone Brewing’s two breweries located in Escondido, California, and Richmond, Virginia, to produce its branded beers in the US. The company says it will brew 360,000 barrels in the US by the end of 2024.
Under the agreement, Stone Brewing will continue to produce its own craft beers – such as Stone IPA, Stone Delicious IPA and Stone Buenaveza Salt & Lime Lager – at the two breweries, as well as operate its seven tap rooms.
Kenny Sadai, chairman of Sapporo USA, commented: “We approached Stone Brewing seeking a partner for our growth plans in the US and we quickly recognised they were an ideal partner with bi-coastal brewing capacity, loyal fans, superb management, shared cultural values and commitment to the highest quality standards”.
Sadai added: “This acquisition puts the resources and legacy of the largest Asian beer brand in America together with one of the most innovative and recognised craft beer brands in the world. It’s a perfect fusion of east meets west that is an ideal marriage for Sapporo’s long-term growth strategy in the US.”
The transaction is expected to close in August 2022.
© FoodBev Media Ltd 2024
