The Belgian New Deal announces the Sale of Cake Shop as Craft Beer M&A Heats Up



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Fort Collins, New Belgium Brewing based in Colorado, one of America's largest breweries, today announced that they will sell 100% of their Australian-owned Kirin Holdings to Australian known to the Little Lion of the World.

Specific terms for the business have not been revealed, but sources familiar with the deal say the lion will spend between $ 350 and $ 400 million to acquire the fourth largest business.

This is the third time Fat Fat has dealt with in the past 20 years. Company & # 39; Brewery cofounder Kim Jordan sold 41% of its business to the stock ownership program (ESOP) in 2000. Thirteen years later, ESOP purchased the remaining shares of Jordan and other shareholders.

The deal with Lion is expected to conclude by the end of the year, pending the approval and consent of ESOP shareholders, the company said in a press release.

Belgium's current CEO Steve Fechheimer will continue to lead the company, and the company's headquarters will remain in Fort Collins.

Jordan will also be "deeply involved in the business" and will continue to advise Lions as well as its technical partners. In addition to the small Australian brewery, interests of the lion's brewery outside the United States include Magic Rock Brewing Company in the UK and London's # 39; Fourpure Brewing & # 39 ;, among others.

Establishing American Presence

Talking to Forbes, Matt Tapper, managing director Little Lion Drinks, said the acquisition reflects the group's ambition to build a portfolio of US-based technology brands.

"We place an important role on American soil which is all about working with New Belgium over time to establish a business that leads to the largest drink in the world's largest wine market in the distance," he said.

The lion's desire to build a US-based digital marketing platform – now operating by more than 7,500 gloves – has begun to take shape. In the middle When the team hired former legendary Simon Thorpe to help develop the merger and acquisition (M & amp; A) strategy.

Thorpe has played an important role in designing the deal, Tapper said, noting that the two companies have been discussing the deal since the summer.

A lot of people have had this opportunity, he said.

When Thorpe was brought to the fore earlier this year, American tea interests included the & # 39; Little Creatures Brewing & # 39;, which operates a small stadium and a playground between Oracle Park, an area of ​​Oracle Park. the home of the Great San Francisco Giants, and the Chase Center, home of the National Guard. The Golden State Warriors Men's Basketball Team.

Under the agreement today, the Lion will also take on another San Francisco-based brewery – Magnolia Brewing. The farm is owned by a majority of New Belgium property, according to the beer industry Brewbound business publication. In late 2017, New Belgium, along with Brouwerij Oud Beersel of Belgium and steel industry legends Dick Cantwell (Seattle-based Elysian Brewing, sold to Anheuser-Busch, and his friend Kim Jordan) earned Magnolia a $ 2.7 million loss.

Meanwhile, Kirin itself controls 24.5% of Brooklyn Brewery's shares, the 12thth The largest craft brewery in the United States, Brooklyn Brewery owns a minority stake in San Francisco 21st Modifications and Fort Collins-based Funkwerks.

Those businesses will continue to operate independently, Forbes understands.

New Belgium Employees' Award

Remarkably, 690 new Belgian landlords will also participate in the transaction, after the lion paid off the remaining debt when New Belgium launched a $ 150 million high-expansion plant in Asheville, North Carolina.

In a blog post In the New Belgian website, Jordan said existing and former employees who owned company shares through ESOP would earn $ 190 million over their lifetime. She added that 300 employees each will receive more than $ 100,000, while some will be paid "significantly more".

Speaking to Forbes, Jordan said ESOP's financial need had a role in the company's decision to sell it.

We need to find enough money to repurchase obligations and we are looking at the following transactions as we sell to future shareholders, she said considering the debt issuance and the desire to increase the market also pushed the company to a deal. .

It was difficult to do all three of these things, “How can we be sure we are the best, the new Belgian we can be? Working with small beverages around the world is really ours. ”

Craft M & amp;

The announcement today also indicates that art fraud has been lifted again after almost two years and many marquee buyers are hitting the spending button.

Owning more than 2.6 million barrels of art metal has already changed hands in 2019. In total, the four largest commercials announced are valued at more than $ 1 billion.

In addition to planned sales in New Belgium, three other top 20 companies announced deals in 2019, including:

  • Oregon Art Association, which announced his intention to sell A-B InBev for $ 16.50 per share in the past. In all, A-B InBev will spend more than $ 350 million to buy about 750,000 barrels of art pins.
  • Michigan Brewing founders, who sold 60% more shares to Mahou San Miguel in late August $ 199 million. Mahou already spent $ 96 million on 30% of the stock in 2014, and the founders issued about 563,000 barrels in 2018.
  • Delaware head of Dogfish, which is on pace to sell 300,000 barrels this year, plus the Boston Beer Company. In the middle a deal valued at $ 300 million.

In addition to those purchases, Ninkasi Nregasi of Oregon and Utah & # 39; s Uinta Brewing were also sold earlier this year. A handful of small deals have also been announced throughout 2019, and this year has been arguably the most active year for M & amp; A by 2015, when more than a dozen craft breweries had more than 2 million barrels.

When we talk to those who know the metal industry, it is understood that a dozen large commercial companies are still exploring the sale and that more deals will be announced by the end of the year. M & amp; The operation is likely to accelerate by 2020, sources said. & nbsp;

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Fort Collins, New Belgium Brewing based in Colorado, one of America's largest breweries, today announced that they will sell 100% of their Australian-owned Kirin Holdings to Australian known to the Little Lion of the World.

Specific terms for the business have not been revealed, but sources familiar with the deal say the lion will spend between $ 350 and $ 400 million to acquire the fourth largest business.

This is the third time Fat Fat has dealt with in the past 20 years. Company & # 39; Brewery cofounder Kim Jordan sold 41% of its business to the stock ownership program (ESOP) in 2000. Thirteen years later, ESOP purchased the remaining shares of Jordan and other shareholders.

The deal with Lion is expected to conclude by the end of the year, pending the approval and consent of ESOP shareholders, the company said in a press release.

Belgium's current CEO Steve Fechheimer will continue to lead the company, and the company's headquarters will remain in Fort Collins.

Jordan will also be "deeply involved in the business" and will continue to advise Lions as well as its technical partners. In addition to the small Australian brewery, interests of the lion's brewery outside the United States include Magic Rock Brewing Company in the UK and London's # 39; Fourpure Brewing & # 39 ;, among others.

Establishing American Presence

Speaking to Forbes, Matt Tapper, managing director of Lion Little World Beverages, said the acquisition reflects the group's ambition to build handmade handbags in the United States.

"We place an important role on American soil which is all about working with New Belgium over time to establish a business that leads to the largest drink in the world's largest wine market in the distance," he said.

The lion's desire to build a presence in the US steel industry – there are now more than 7,500 commercial types of businesses – began in May when the group hired former legendary Simon Thorpe to help out. perform joint venture development (M&A).

Thorpe has played an important role in designing the deal, Tapper said, noting that the two companies have been discussing the deal since the summer.

A lot of people have had this opportunity, he said.

When Thorpe was brought to the fore earlier this year, American tea interests included the & # 39; Little Creatures Brewing & # 39;, which operates a small stadium and a playground between Oracle Park, an area of ​​Oracle Park. the home of the Great San Francisco Giants, and the Chase Center, home of the National Guard. The Golden State Warriors Men's Basketball Team.

Under the agreement today, the Lion will also take on another San Francisco-based brewery – Magnolia Brewing. The breakdown is owned by a New Belgium-based company, according to Brewbound's steel industry trade publication. In late 2017, New Belgium, along with Brouwerij Oud Beersel of Belgium and steel industry legends Dick Cantwell (Seattle-based Elysian Brewing, sold to Anheuser-Busch, and his friend Kim Jordan) earned Magnolia a $ 2.7 million loss.

Meanwhile, Kirin itself controls 24.5% of Brooklyn Brewery's shares, the 12thth The largest craft brewery in the United States, Brooklyn Brewery owns a minority stake in San Francisco 21st Modifications and Fort Collins-based Funkwerks.

Those businesses will continue to operate independently, Forbes understands.

New Belgium Employees' Award

Remarkably, 690 new Belgian landlords will also participate in the transaction, after the lion paid off the remaining debt when New Belgium launched a $ 150 million high-expansion plant in Asheville, North Carolina.

In a blog post published on the new Belgian website, Jordan said current and former employees who owned the company's shares through ESOP would earn $ 190 million in their lifetime. She added that 300 employees each will receive more than $ 100,000, while some will be paid "significantly more".

Speaking to Forbes, Jordan said ESOP's financial need had a role in the company's decision to sell it.

We need to find enough money to repurchase obligations and we are looking at the following transactions as we sell to future shareholders, she said considering the debt issuance and the desire to increase the market also pushed the company to a deal. .

It was difficult to do all three of these things, “How can we be sure we are the best, the new Belgian we can be? Working with small beverages around the world is really ours. ”

M&A picking up Steam

The announcement today also indicates that art fraud has been lifted again after almost two years and many marquee buyers are hitting the spending button.

Owning more than 2.6 million barrels of art metal has already changed hands in 2019. In total, the four largest commercials announced are valued at more than $ 1 billion.

In addition to planned sales in New Belgium, three other top 20 companies announced deals in 2019, including:

  • Oregon Craft Brew Alliance, which announced its intention to sell A-B InBev for $ 16.50 per share last week. In all, A-B InBev will spend more than $ 350 million to buy about 750,000 barrels of art pins.
  • The founders of Michigan Brewing, which sold 60% of the stock at Mahou San Miguel in late August for $ 199 million. Mahou already spent $ 96 million on 30% of the stock in 2014, and the founders issued about 563,000 barrels in 2018.
  • Delaware chief Dogfish, which is on pace to sell 300,000 barrels this year, added Boston Beer Company in May valued at $ 300 million.

In addition to those purchases, Ninkasi Nregasi of Oregon and Utah & # 39; s Uinta Brewing were also sold earlier this year. Several small deals have also been announced in 2019, and this year is what seems to be the most active year of M&A technology since 2015, when more than a dozen technology companies have produced more than 2 a million barrels.

When we talk to those who know the metal industry, it is understood that a dozen large commercial companies are still exploring the sale and that more deals will be announced by the end of the year. M&A's performance in the arts is likely to accelerate by 2020, sources also say.

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