Heineken N.V. on May 4 announced it has acquired all the remaining shares in Lagunitas Brewing Co. Financial terms were not disclosed. Heineken has held a 50 percent stake in the craft brewer since 2015.
"To maintain the Lagunitas culture and free spirit, the company will continue to operate as an independent entity within Heinken and will report within the Heineken Americas Region," the acquiring company said.
Tony Magee, founder of Lagunitas, will remain active as executive chairman of the company, and he will be supported by his current management team. In addition, Magee will play a key advisory role to Heineken's executive team on the global and local craft strategy.
Since the 2015 buy-in, Lagunitas has continued to outperform the US beer market, where craft beer now represents about 11 percent of total volume. The small brewer claims to be the market leader in the IPA (India pale ale) segment, the fastest growing sub-segment within craft, and sold over 1 million hectolitres in 2016.
Heineken has helped to expand Lagunitas' international presence, including entry into new markets such as France, Mexico, Italy and Spain, and extended the brand's availability in markets including the UK, Canada, Netherlands, Sweden and Japan. Following this transaction Heineken will accelerate the export of Lagunitas to many more markets around the world.
Lagunitas operates breweries in Petaluma, Calif., where it's headquartered, a second one in Chicago and a third is being built in Azusa, Calif.
"Our partnership with Lagunitas has been a great success and today's announcement marks the next stage of an exciting journey," said Jean-François van Boxmeer, chairman and CEO of Heineken. "We look forward to accelerating the roll-out of the Lagunitas brand to many more markets, and sharing Lagunitas craft beer with many more consumers around the world."