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Brooklyn Brewery bunks up with Kirin Brewery through 25% stake sale

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Brooklyn Brewery has sold off a near-25% stake to Kirin Brewery Co, a year after saying it was not looking to make an equity sale.

Kirin and Brooklyn Brewery will set up a JV in Japan as part of their new partnership

Kirin and Brooklyn Brewery will set up a JV in Japan as part of their new partnership

Kirin announced earlier today that the two companies "have decided to form a capital and business partnership that includes Kirin acquiring a minority stake in Brooklyn Brewery". The Japanese company will buy a 24.6% stake in the US brewer, for an undisclosed sum.

"Under this capital partnership, Kirin ... will support the growth of Brooklyn Brewery as a strategic partner through technological and procurement assistance," Kirin said today. "Both companies will (also) explore the possibility of new areas of cooperation."

Also as part of the tie-up, Kirin and Brooklyn Brewery will set up a Japanese joint-venture - 60%-owned by Kirin - with a view to launching the Brooklyn brand in the country. Kirin will also utilise its Brazilian presence, in the shape of its Schincariol unit, to roll out Brooklyn in the country.

Today's announcement comes a month after Brooklyn admitted it was in "conversation" with Kirin, and just over a year after the company distanced itself from claims it was looking to offload some equity to any outside parties.

Set up in 1988, Brooklyn Brewery is the 12th largest craft brewer in the US, in volume terms. The company has cultivated a relationship with Carlsberg in recent years, through distribution tie-ups and the creation of two joint breweries in Scandinavia.


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