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. — 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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