Sapporo Acquires Stone Brewing
In a stunning announcement overnight, Sapporo Holdings announced the acquisition of "Membership Interest (Consolidation)" in U.S.A-based Stone Brewing Company. Per the announcement: "Sapporo Holdings Limited (the “Company”) hereby announces that the Company, at the Board of Directors’ meeting held today, resolved that Sapporo U.S.A., Inc., a consolidated subsidiary of the Company, would enter into a membership interest purchase agreement with Stone Brewing Holdings, LLC (“Stone Holdings”) to make Stone Brewing Co., LLC (“Stone”) a subsidiary of the Company." The deal is expected to close sometime in August.
The announcement outlines plans for Sapporo U.S.A. to acquire two of Stone's plants, in Escondido, California, and Richmond, Virginia where Sapporo intends to produce its Sapporo-branded beers for U.S. distribution. “We approached Stone Brewing seeking a partner for our growth plans in the U.S, and we quickly recognized they were an ideal partner with bi-coastal brewing capacity, loyal fans, superb management, shared cultural values, and commitment to the highest quality standards,” said Kenny Sadai, Chairman, Sapporo U.S.A. “This acquisition puts the resources and legacy of the largest Asian beer brand in America together with one of the most innovative and recognized 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 U.S.”
Under the agreement, Stone will continue to produce its beers and operate its seven Tap Rooms and World Bistro & Gardens destinations with existing branding, management, and workforce. “This is the right next chapter for Stone Brewing,” said Greg Koch, Co-Founder & Executive Chairman of Stone Brewing. “For 26 years, our amazing team has worked tirelessly to brew beers that have set trends and redefined expectations. To have the interest of a company like Sapporo in continuing the Stone story is a testament to the great beers we’ve created and will continue to create for our fans across the globe.”
“I am thrilled that we have the opportunity to join forces with Sapporo,” said Maria Stipp, CEO of Stone Brewing. “This unique partnership allows us to preserve the Stone legacy that our fans know and love and will add exponential opportunities for growth, from production to more investment in people, equipment, sales, and marketing.”