A major Spanish brewer is acquiring a minority stake in one of Colorado's best-established craft-beer makers, suggesting that it has an eye on selling Avery's products internationally.
Mahou San Miguel, a 127-year-old Madrid-based company and Spain's largest brewer, announced it will take a 30 percent stake in Boulder-based Avery Brewing Co., which currently sells in nearly 40 states.
"Through this agreement, both companies aim on promoting the organic growth of Avery Brewing investing in innovation and quality, which will enable it to reinforce its presence in current U.S. markets and reach new ones, even beyond its borders," Tuesday's announcement said.
Terms of the share acquisition were not disclosed. The deal is slated to close in January 2018.
Avery was founded in 1993 by home brewer Adam Avery, using an investment of retirement money from his father, Larry. The two are majority owners.