Stone Brewing is on tap for yet another corporate shakeup \u2014 and this round comes with a chaser.<\/p>\n
The California craft beer company is being sold for the second time in just four years and production in San Diego of the tasty hops which will eventually come to an end<\/a>.<\/p>\n Belgian brewing heavyweight Duvel Moortgat USA and Firestone Walker Brewing Company have struck a deal to snag Stone from Sapporo Holdings, which only picked up the brand in 2022 for an estimated $168 million.\u00a0<\/p>\n The deal includes Stone\u2019s three Southern California taprooms, brewery and restaurant in Liberty station in San Diego, the San Diego Tribune reported<\/a>.<\/p>\n Sapporo will no longer be making Stone Beer. Shutterstock \/ Dontree_M<\/p>\n \u201cThe Liberty Station location will continue to operate as both a hospitality destination and an active brewing facility, maintaining Stone\u2019s physical presence in San Diego,\u201d the companies said in a news release. They also promised that \u201cStone Brewing will retain its distinct voice.\u201d<\/p>\n A statement<\/a>, from the Japanese beermaker said that, despite just acquiring the brand a few years ago, \u201ctotal demand across the entire U.S. beer market trended downward, reflecting developments such as higher prices due to inflation and diversification of consumer preferences.\u201d<\/p>\n \u201cThis declining demand was compounded by factors including increasing competition and higher costs, making the operating environment increasingly challenging.\u201d<\/p>\n The company said that it will focus entirely on expanding the Sapporo brand itself, with it focusing on consolidating all its US beer production<\/a> in its Richmond plant in Virginia, rather than the Escondido plant in San Diego County.<\/p>\n Production in San Diego will \u201ccease manufacturing beer relating to the Sapporo and Stone brand\u201d with an estimation of that happening \u201cby the end of 2026,\u201d per the announcement.<\/p>\n The California craft beer company is being sold for the second time in just four years. AFP\/Getty Images<\/p>\n Production in San Diego will \u201ccease manufacturing beer relating to the Sapporo and Stone brand\u201d with an estimation of that happening \u201cby the end of 2026,\u201d per the announcement. Stone Brewing<\/p>\n As far as when the San Diego plant will completely stop operating and what it will mean for those nearly 300 jobs, Zachary Keeling, the CEO of Sapporo-Stone Brewing USA, said they were currently trying to figure that all out.<\/p>\n \u201cWe\u2019re in talks right now, continuing talks, trying to find an alternative of somebody to come in and take over the operations in Escondido,\u201d Keeling told the Tribune.<\/p>\n \t\t\t\t\t\t\tSign up for the California Morning Report newsletter\t\t\t\t\t\t<\/p>\n \n\t\t\t\t\t\t\tCalifornia’s top news, sports and entertainment delivered to your inbox every day.\t\t\t\t\t\t<\/p>\n \t\t\t\t\t\tThanks for signing up!\n\t\t\t\t<\/p>\n \u201cI can\u2019t go into the specifics there. But we\u2019re working on that, and that\u2019s the next step in this overall transaction.\u201d<\/p>\n In a joint new release, Stone, Duvel and Firestone said the agreement brings \u201cone of America\u2019s foundational craft breweries<\/a> into a family of like-minded brewers,\u201d according to the San Luis Obispo Tribune<\/a>.\u00a0<\/p>\n Production of Stone Beer will be moved out of San Diego to the Firestone Walker Brewery in Paso Robles and Duvel\u2019s brewery in Kansas City.<\/p>\n Production in San Diego will \u201ccease manufacturing beer relating to the Sapporo and Stone brand.\u201d Stone Brewing<\/p>\n The company said it plans to hire \u201ca significant number of Stone Brewing employees across hospitality, sales, and marketing, with production positions to be assessed as brewing operations transition to new facilities.\u201d<\/p>\n Nick Firestone, CEO of Firestone Walker Brewing Company, told the outlet\u00a0 \u201cStone is one of the most iconic brands in American craft beer and a pioneer of the West Coast IPA.\u201d<\/p>\n Download The California Post App, follow us on social, and subscribe to our newsletters <\/p>\n California Post News: Facebook<\/a>, Instagram<\/a>, TikTok<\/a>, X<\/a>, YouTube<\/a>, WhatsApp<\/a>, LinkedIn<\/a> \u201cFor 30 years, they\u2019ve built something legendary, a brand known for its commitment to quality, drive for innovation, and a true fighting spirit.\u201d<\/p>\n He added, \u201cwe will honor what\u2019s been built and carry it forward with the same authenticity and conviction that we love them for. The Stone heart keeps beating.\u201d<\/p>\n Stone beers will no longer be made in Richmond. Facebook\/WTVR CBS 6 News<\/p>\n At the company\u2019s peak, Stone\u2019s production was at\u00a0400,000 barrels a year, but it now stands at\u00a0250,000, Firestone said.<\/p>\n In comparison, Firestone Walker\u2019s production, which is also down from previous years, sits at around 450,000 barrels, the Tribune noted.<\/p>\n The Post reached out to Firestone Walker for further comment.\u00a0<\/p>\n \t\t\t\t\t\t
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