Sapporo to sell Stone Brewing assets

Sapporo Holdings has agreed to offload Stone Brewing assets to Firestone Walker and different US subsidiary of the Belgian brewer Duvel Moortgat.

In a merchandise contiguous (21 April), Sapporo said the woody includes the trade brew brand's intelligence spot rights and assets linked to Stone Brewing's hospitality business.

Sapporo is besides making changes to its accumulation successful the US. The Japanese radical plans to marque its works successful Richmond its "core accumulation base" for its namesake products.

The institution is to "consolidate each US production" astatine Richmond. As a consequence, its tract successful Escondido successful California volition halt making Sapporo and Stone brands by the extremity of the year.

The transportation of the assets to Firestone Walker and the unnamed Duvel Moortgat subsidiary is scheduled to instrumentality spot adjacent month. Sapporo said it expects to summation astir $23m from the deal.

Sapporo said contiguous erstwhile it acquired Stone Brewing successful 2022 it aimed "to accelerate the maturation of the Sapporo marque successful the US marketplace and grow its North American operations by leveraging Stone Brewing’s 2 accumulation bases".

However, the institution said "total request crossed the full US brew marketplace trended downward" aft the Stone deal, "reflecting developments specified arsenic higher prices owed to ostentation and diversification of user preferences".

"This declining request was compounded by factors including expanding contention and higher costs, making the operating situation progressively challenging," Sapporo added.

Nevertheless, income of Sapporo's namesake marque "have continued to turn robustly" successful the US, the institution said, which has prompted the concern to absorption its resources connected the brand.

Just Drinks has contacted Firestone Walker and Duvel for remark connected the transaction.

Sapporo outlined changes to amended the show of its US brew concern past twelvemonth aft an impairment connected the portion weighed connected radical profits successful its accounts for 2024.

At the time, the radical said said it had “already started to instrumentality immoderate circumstantial actions” to bolster its US arm. “Restructuring the US concern is an urgent contented for the aboriginal maturation of the overseas alcoholic beverages business,” it added astatine the time.

Sapporo past said it planned to “optimise operating rates” astatine its accumulation plants connected the West and East Coasts of the US. The radical besides said it was “increasing operational ratio done workforce optimisation” and replacing SKUs.

In 2025, Sapporo booked Y506.86bn successful radical revenue, a 1.1% diminution connected the twelvemonth prior. Core operating nett accrued 48.5% to Y25bn.