GRAND RAPIDS, Mich. (WWJ) – A Spanish brewery group is reportedly set to purchase a majority stake in the Grand Rapids-based Founders Brewing Co.
Mahou San Miguel, which has held 30% stake in Founders since 2014, is set to raise that number to 90%, according to the Grand Rapids-based publication MiBiz.
Founders, best known for brews like All Day IPA and Solid Gold Premium Lager, was started in 1997 and has grown to become one of the biggest breweries in the country. Founders became the first brewery in Michigan to distribute in all 50 states and recently surpassed Bell’s Brewery as the state’s largest brewery.
The brewery’s co-founders, Mike Stevens and Dave Engbers, will reportedly each retain 5% stake in the company, according to MiBiz.
Founders opened a taproom in Detroit last year.