GRAND RAPIDS, Mich — Founders Brewing Co. is selling majority stake in the company to a Spanish brewer. The Grand Rapids company made the announcement Thursday.
Currently, Spain’s Best Beer Inc. owns a 30 percent stake in Founders. Documents were filed with the Michigan Liquor Control Commission last week for the Spanish brewer to hold a 90 percent stake in the company.
Founders said day-to-day operations will continue to be led by the existing team.
"We'll continue to make the beers we love and have a partner in Mahou Group, who is just as passionate about beer and the future of Founders as we are," Founders said.
According to state filings, co-founders Mike Stevens and Dave Enbergs will keep a five percent stake in the company.
The transaction should close in January 2020.
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