The beer giants of the world are coming for the little guys. Heineken bought a 50 percent stake in leading craft brewer Lagunitas on Tuesday, Reuters reports. The deal's details are not public, but The Santa Rosa Press-Democrat reports the nation's sixth-largest craft brewery was likely valued at $1 billion.
Lagunitas Brewing Company founder Tony Magee hailed the deal as "a profound victory for American craft," and an effort to introduce more people globally to his beer.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Create an account with the same email registered to your subscription to unlock access.
-
What would it be like in jail for Trump if he's convicted?Today's Big Question The Secret Service has begun grappling with how to protect a former president behind bars
-
How much can you save shopping secondhand?The Explainer Many Americans are buying pre-owned items to counteract the effects of inflation
-
Downtown St. Louis is in a real estate 'doom loop'Under the Radar The city is ripe with abandoned buildings and vacant lots, with its real estate market in dire straits
-
Empty-nest boomers aren't selling their big homesSpeed Read Most Americans 60 and older do not intend to move, according to a recent survey
-
Brazil accuses Musk of 'disinformation campaign'Speed Read A Brazilian Supreme Court judge has opened an inquiry into Elon Musk and X
-
Disney board fends off Peltz infiltration bidSpeed Read Disney CEO Bob Iger has defeated activist investor Nelson Peltz in a contentious proxy battle
-
Disney and DeSantis reach detenteSpeed Read The Florida governor and Disney settle a yearslong litigation over control of the tourism district
-
Visa and Mastercard agree to lower swipe feesSpeed Read The companies will cap the fees they charge businesses when customers use their credit cards
-
Reddit IPO values social media site at $6.4 billionSpeed Read The company makes its public debut on the New York Stock Exchange
-
Housing costs: the root of US economic malaise?speed read Many voters are troubled by the housing affordability crisis
-
Feds cap credit card late fees at $8speed read The Consumer Financial Protection Bureau finalized a rule to save households an estimated $10 billion a year
