Founders Selling Majority Stake To Mahou-San Miguel

From MiBiz:

GRAND RAPIDS — Founders Brewing Co. is selling a majority stake in the business to the brewery’s Spain-based minority shareholder, MiBiz has learned.

Grand Rapids-based Founders Brewing, the 14th largest brewery in the U.S. as of 2018, filed documents with the Michigan Liquor Control Commission last week indicating that Spain’s Best Beer Inc., an affiliate of Madrid-based Mahou-San Miguel Group, will hold a 90-percent stake in the company. The Spanish brewer currently owns a 30 percent stake in Founders.

Founders Brewing co-founders Mike Stevens and Dave Engbers each will retain a 5-percent stake in the brewery, according to state filings.

Stevens confirmed the pending deal in an exclusive interview with MiBiz.