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‘I kind of feel betrayed’: New Belgium Brewing sale draws cheers and criticism from beer drinkers

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‘I kind of feel betrayed’: New Belgium Brewing sale draws cheers and criticism from beer drinkers

News of the Fort Collins-based brewing company led some to voice congratulations and others saying they would be taking their beer money elsewhere.

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In 2014, New Belgium Brewing Company founder Kim Jordan said Fort Collins “will always be the mothership and the deep roots of who New Belgium is.” Coloradoan library, Fort Collins Coloradoan

After becoming 100% employee-owned seven years ago, New Belgium Brewing will soon be completely owned by an Australia-based company.

Lion Little World Beverages purchased the Fort Collins company in a cash deal announced Tuesday. Lion Little is a subsidiary of Japanese brewing giant Kirin.

The terms of the sale were not released, but the sale is expected to be completed by the end of the year. New Belgium founder Kim Jordan said the deal means cash for employees.

“More than 300 employees are receiving over $100,000 of retirement money with some receiving significantly greater amounts,” Jordan said in a release. “Over the life of our ESOP (Employee Stock Ownership Plan), including this transaction, the total amount paid to current and former employees will be nearly $190 million.”

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The change created a stir by longtime supporters and drinkers of the company’s beer, with some voicing congratulations and others accusing the company of selling out its values. Here’s a look at their responses:

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Read or Share this story: https://www.coloradoan.com/story/news/2019/11/19/new-belgium-brewing-sale-beer-kirin-lion/4241569002/