Sapporo to Sell Stone Brewing Assets to Firestone Walker and Duvel Moortgat
Sapporo Holdings is selling its Stone Brewing assets to Firestone Walker and a subsidiary of Duvel Moortgat, expecting to gain around $23 million. The move follows declining demand in the US beer market and a strategic shift to focus on Sapporo's core brand. Production will be consolidated at Sapporo's Richmond plant, with the Escondido facility ceasing production of Sapporo and Stone brands by year-end.
Topics: Business Strategy Corporate Restructuring Craft Beer Industry Mergers and Acquisitions