Founders Brewing Company prepares to celebrate 15th anniversary

Bartender Marcos Conde carries beer at Founders Brewing Company Friday, November 2, 2012. (Cory Morse | MLive.com)

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Update: Why Founders pursued deal with Spanish brewer

Update: Is Founders still a 'craft' brewery now?

GRAND RAPIDS, MI — A Spanish brewery group has purchased a 30-percent stake in Grand Rapids-based Founders Brewing Co.

The Michigan brewery announced the Mahou San Miguel group of Madrid, Spain as the new minority investor on Wednesday, Dec. 17.

Founders said the partnership would help the brewery tap the growing international market for craft beer, as well as allow Mahou to become directly involved in the U.S. craft beer market.

“Mahou shares our family values and a commitment to their communities,” said Founders CEO Mike Stevens in a statement. “They also believe in the importance of long term partnerships. We are honored to be working with a brewer that commands so much respect.”

Robert W. Baird & CO. is serving as financial adviser for the transaction. The deal is expected to close in January.

Mahou San Miguel was founded in Madrid in 1890 under the name Hijos de Casimiro Mahou. It is a leading Spanish brand. Earlier this year, it purchased an Indian brewery, Arian Breweries & Distilleries.