New Belgium Brewing, one of the largest craft beer companies in the U.S., has agreed to be acquired by a unit of Kirin Holdings Co., the latest independent brewer to be snapped up in an increasingly competitive market.
Lion Little World Beverages, a craft beer division of Kirin-owned Lion, will acquire the Colorado-based brewery in an all-cash deal. The price wasn't disclosed.
New Belgium, known for its Fat Tire Amber Ale, is the fourth-largest independent brewery in the U.S., according to 2018 data from the Brewers Association. The brewery is owned by its 700 employees and has distribution in all 50 U.S. states.