Sapporo U.S.A., a subsidiary of the major Japanese beer-maker, on Friday announced a $168 million acquisition of Stone Brewing, an iconic U.S. craft brewery.
The acquisition, slated to close in August, will create ¡°strength and growth potential for both brands,¡± the companies said in a statement. Sapporo¡¯s move is part of the company¡¯s efforts to speed up its global expansion and increase its brewing capacity, which will get a boost from two Stone facilities in the U.S. ¡ª one in California and another in Virginia.
¡°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,¡± Kenny Sadai, chairman of Sapporo U.S.A., said in the statement. ¡°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.¡±
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