Heineken to acquire full ownership of Lagunitas

Lagunitas IPA coming off the bottling line // Photo by John Shappell, Flickr CC 2.0

Lagunitas Brewing Company, the Petaluma-based craft brewing icon that sold a 50-percent stake to Heineken last September, announced on their website this morning that they would transfer the other half of the ownership to Heineken as well. The Dutch firm is the second-largest brewing company in the world, with over 160 breweries in their portfolio.

Lagunitas founder Tony Magee explained the move in a blog post:

“Money has value and equity has value too,” he wrote, in part. “I am using Lagunitas’ equity to buy deeper into an organization that will help us go farther more quickly than we could have on our own.”

[H/T Chicago Tribune]