Stone Brewing is on tap for yet another corporate shakeup — and this round comes with a chaser.
The California craft beer company is being sold for the second time in just four years and production in San Diego of the tasty hops which willeventually come to an end.
Belgian brewing heavyweight Duvel Moortgat USA and Firestone Walker Brewing Company have struck a deal to snag Stone from Sapporo Holdings, which only picked up the brand in 2022 for an estimated $168 million.
The deal includes Stone’s three Southern California taprooms, brewery and restaurant in Liberty station in San Diego, theSan Diego Tribune reported.
“The Liberty Station location will continue to operate as both a hospitality destination and an active brewing facility, maintaining Stone’s physical presence in San Diego,” the companies said in a news release. They also promised that “Stone Brewing will retain its distinct voice.”
Astatement, from the Japanese beermaker said that, despite just acquiring the brand a few years ago, “total demand across the entire U.S. beer market trended downward, reflecting developments such as higher prices due to inflation and diversification of consumer preferences.”
“This declining demand was compounded by factors including increasing competition and higher costs, making the operating environment increasingly challenging.”
The company said that it will focus entirely on expanding the Sapporo brand itself, with it focusing on consolidating all itsUS beer productionin its Richmond plant in Virginia, rather than the Escondido plant in San Diego County.
Production in San Diego will “cease manufacturing beer relating to the Sapporo and Stone brand” with an estimation of that happening “by the end of 2026,” per the announcement.
As far as when the San Diego plant will completely stop operating and what it will mean for those nearly 300 jobs, Zachary Keeling, the CEO of Sapporo-Stone Brewing USA, said they were currently trying to figure that all out.
Source: California Post – Breaking California News, Photos & Videos
