New Belgium Brewing to merge with Bell’s Brewery

FORT COLLINS — Lion Little World Beverages, the Australian brewer that acquired iconic Fort Collins brewer New Belgium Brewing Co. in 2019, has announced plans to acquire Bell’s Brewery Inc., based in Kalamazoo, Michigan.

Financial terms of the deal were not disclosed.

The acquisition — expected to close within two months — will combine New Belgium and Bell’s, two of the nation’s craft-brewing powerhouses. The merger will create the fifth-largest craft-brewery control group, after Anheuser-Busch’s Brewers Collective, D.G. Yuengling & Son, Molson Coors’ Tenth & Blake, and Boston Beer Co..

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Larry Bell founded Bell’s in 1985, first brewing beer in a 15-gallon soup kettle. Bell announced the pending sale — and his own retirement — during the company’s annual all-employee event Wednesday.

“I’m so proud of what we’ve been able to accomplish together,” Bell said. “From our wonderful fans, to the amazing team that has helped share our beer with the world, to the ways we’ve been able to invest in causes we believe in – this has been an absolutely incredible journey.”

Bell said the decision to sell came down to two determining factors.

“First, the folks at New Belgium share our ironclad commitment to the craft of brewing and the community-first way we’ve built our business,” he said. “Second, this was the right time. I’ve been doing this for more than 36 years and recently battled some serious health issues. I want everyone who loves this company like I do to know we have found a partner that truly values our incredible beer, our culture, and the importance of our roots here in Michigan.” 

The combination of Bell’s and New Belgium will create a brand lineup that includes New Belgium’s Voodoo Ranger and Fat Tire, and Bell’s Two Hearted Ale and Oberon Ale.

New Belgium produced 975,000 barrels of beer in 2020, according to the Boulder-based Brewers Association, operating from breweries in Fort Collins; Asheville, North Carolina; Denver; and San Francisco. Bell’s produced 466,539 barrels, opening from two breweries in Michigan.

With the merger, Bell’s said it will expand its social, philanthropic and environmental initiatives, including seeking B Corporation certification, 100% carbon neutrality by 2030, $1 per barrel philanthropy and 100% score on the Human Rights Campaign Corporate Equality Index.

“In Bell’s, we see a likeminded group of people dedicated to making the world’s best beer — doing business in a way that improves the wellbeing of the people who power our success,” New Belgium CEO Steve Fechheimer said in a prepared statement.. “We couldn’t be happier to welcome the entire Bell’s team. Joining together will immediately strengthen our ability to serve and expand the craft community, deliver more value for our partners, and continue to redefine how business is done in a world facing historic economic, social, and environmental challenges.” 

Bell’s beers are distributed across 43 states, the District of Columbia and Puerto Rico. No changes are planned to Bell’s current beers, the companies said.

Bell’s executive vice president Carrie Yunker will continue to lead day-to-day operations for the brand, reporting to Fechheimer and joining the combined company’s leadership team. Vice President of Operations John Mallett will join the leadership team, focusing on integrating the two brewing organizations.

“We are thrilled to be taking this next step in the United States, bringing these two great names in craft brewing together,” Matt Tapper, managing director of Lion’s global craft beverages business, said in the press release. “We look forward to continuing to support both Bell’s and New Belgium in this next phase of growth.”

Lion is owned by Kirin Holdings Co., based in Japan.