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Sapporo U.S.A., a subsidiary of the major Japanese beer-maker, on Friday announced a $168 million acquisition of Stone Brewing, an iconic U.S. craft brewery.

The acquisition, slated to close in August, will create “strength and growth potential for both brands,” the companies said in a statement. Sapporo’s move is part of the company’s efforts to speed up its global expansion and increase its brewing capacity, which will get a boost from two Stone facilities in the U.S. — one in California and another in Virginia.

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