According to the Associated Press, Founders Brewery is being sold to a Spanish partner. The largest beer maker in Michigan, Founders in Grand Rapids has informed state regulators that Mahou San Miguel Group will have a 90% stake in the brewer by January.
Mahou San Miguel, based in Madrid, acquired a 30% stake in Founders in 2014. Founders says Mike Stevens and Dave Engbers, who co-founded the brewery in 1997, will each retain a 5% share and "have no intention of leaving."