Stone Brewing, a San Diego-based craft brewery, is changing hands again.
Paso Robles-based Firestone Walker Brewing Co. and Duvel Moortgat USA announced in a social media post that they have acquired Stone Brewing.
None of the parties disclosed the transaction value of the deal.
The transaction is expected to close this summer, The San Diego Union-Tribune reported.
Nick Firestone, CEO of Firestone Walker Brewing Co., will step in as the next head of Stone Brewing, the report added.
Stone Brewing was acquired by Japan-based Sapporo USA for $165 million in 2022.
The deal allowed Sapporo to produce its own branded beers for U.S. distribution in Stone Brewing’s breweries in Escondido, California, and Richmond, Virginia.
The new ownership will result in Stone Brewing’s production shifting to Paso Robles after the transaction closes.
Beer production will cease at its existing facilities and will shift to Firestone Walker’s brewery in Paso Robles and Duvel’s brewery in Missouri.
The deal brings together two California beer companies that both started their journeys in 1996.
As part of the deal, Stone Brewing’s beers and four venues will fall under Firestone Walker Brewing Co.’s umbrella, according to The San Diego Union-Tribune. The venues include Stone Brewing’s brewery and restaurant in Liberty Station and three taprooms (Little Italy, Oceanside, and Pasadena), along with the pubs at the San Diego International Airport and Petco Park.
Stone Brewing’s brewing plant at Escondido (which employs nearly 160 people) and the Escondido bistro (which employs about 140 people) were not included.
Firestone Walker Brewing Co., which itself is majority-owned by Duvel Moortgat USA (the American subsidiary of the Belgian brewery) since 2015, will also handle distribution of Stone Brewing in western U.S., Texas, and oversee national accounts.
Meanwhile, Duvel Moortgat will distribute Stone Brewing beers east of the Rocky Mountains through its own network, including Boulevard Brewing Co. in Kansas City, Missouri.
Sapporo USA will continue to use the Escondido and Virginia facilities to make Stone Brewing beers and operate the Escondido bistro through the end of this year, according to The San Diego Union-Tribune.
Citing Firestone, The San Diego Union-Tribune said the new owners plan to preserve Stone Brewing’s “rich brand identity.”
Characterizing Stone Brewing’s Liberty Station location as an “homage to craft brewing,” Firestone said that they are not planning to change it.
Stone Brewing was founded by Greg Koch and Steve Wagner in San Marcos in 1996. They envisioned creating an alternative choice for beer enthusiasts who were dissatisfied with industrialized beers.
Koch and Wagner started brewing beer in a small warehouse, eventually growing into a nationwide brand with celebrated beer portfolio, restaurants and taprooms.
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