Founder's Brewing in Grand Rapids announced that it has sold a minority 30 percent share in the company to Spanish brewer Mahou San Miguel, according to a release.
"We knew that taking on a partner was the necessary, responsible thing to do for the future of Founders because it would open up new doors for growth as well as ensure our legacy for years to come," says CEO and co-founder Mike Stevens. "We spent a long time determining who would be the best partner to help us grow Founders while staying true to our beers and our culture. Mahou shares our family values and a commitment to their communities; they also believe in the importance of long-term partnerships. We are honored to be working with a brewer that commands so much respect."
The Michigan craft brewer hopes to grow its international distribution network through the partnership. The deal is expected to close in January.