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.
-
Easy listening: the best audiobooksThe Week Recommends Swap hefty hardbacks for hands-free reading this summer
-
Sharenting: does covering children's faces on social media protect them?In The Spotlight Privacy trend has 'trickled down' from celebrity parents but it may not protect your kids
-
Syria's returning refugeesThe Explainer Thousands of Syrian refugees are going back to their homeland but conditions there remain extremely challenging
-
Dollar faces historic slump as stocks hit new highSpeed Read While stocks have recovered post-Trump tariffs, the dollar has weakened more than 10% this year
-
Economists fear US inflation data less reliablespeed read The Labor Department is collecting less data for its consumer price index due to staffing shortages
-
Crypto firm Coinbase hacked, faces SEC scrutinySpeed Read The Securities and Exchange Commission has also been investigating whether Coinbase misstated its user numbers in past disclosures
-
Starbucks baristas strike over dress codespeed read The new uniform 'puts the burden on baristas' to buy new clothes, said a Starbucks Workers United union delegate
-
Warren Buffet announces surprise retirementspeed read At the annual meeting of Berkshire Hathaway, the billionaire investor named Vice Chairman Greg Abel his replacement
-
Trump calls Amazon's Bezos over tariff displaySpeed Read The president was not happy with reports that Amazon would list the added cost from tariffs alongside product prices
-
Markets notch worst quarter in years as new tariffs loomSpeed Read The S&P 500 is on track for its worst month since 2022 as investors brace for Trump's tariffs
-
Tesla Cybertrucks recalled over dislodging panelsSpeed Read Almost every Cybertruck in the US has been recalled over a stainless steel panel that could fall off
