Courtesy New Belgium Brewing
In the third major blow to the Colorado beer industry in the last two months, New Belgium Brewing on Tuesday announced that the employee-owned company is selling to Australian-based Lion Little World Beverages.
New Belgium is currently the largest craft brewery in Colorado and the fourth-largest in the U.S., behind Yuengling, Boston Beer and Sierra Nevada, according to the Brewers Association. The Fort Collins-based brewery’s cash sale, for an undisclosed amount, is expected to finalize by the end of the year, pending approval by employee stock owners.
More than 300 of New Belgium’s employee-owners will receive more than $100,000 in retirement money through the deal, “with some receiving significantly greater amounts,” New Belgium founder Kim Jordan wrote in a letter on Tuesday.
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