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Mahou San Miguel, which is family-owned, is the largest Spanish brewing company. They own 45 beer brands, few of which are widely available in the U.S. MSM already has a presence in the US craft beer market, having bought 40% of Founders in 2014.
Avery had been rapidly ramping up production in recent years, and was known to have been seeking a partner. Their press release didn’t specify the size of the purchased stake; if it is 25% or greater, Avery will no longer be considered a Craft brewer by the Brewers Association.