Brooklyn Brewery Sells Off Minority Stake To Kirin Brewery Of Japan

West will meet east in craft beer with this new deal.

The Japanese brewer Kirin announced yesterday on their website that they will acquire an approximately 24.5% stake in Brooklyn Brewery.

Under this partnership, Kirin will support the growth of Brooklyn Brewery as a strategic partner through “technological and procurement assistance, and both companies will explore the possibility of new areas of cooperation,” the company says in a press release.

Brooklyn Brewery will remain an independent craft beer brewer. No changes to the current management are planned, the company says.

Moreover, Kirin and Brooklyn Brewery will establish a joint venture (with a planned capital contribution share of Kirin 60%, Brooklyn Brewery 40%) in Japan around January 2017, and proceed to roll out the Brooklyn brand. Both companies also plan on expanding the Brooklyn brand into Brazil.

Financial terms of the deal were not disclosed.

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