British craft beer maker Brewdog is expanding into China after partnering with brewing giant Budweiser.
The Scottish firm’s Punk IPA and other beers will be brewed in China thanks to a joint venture with Budweiser China.
Brewdog also says it plans to open more bars in the world’s second-largest economy.
It comes after the company has faced controversy in recent years and said it may go public.
In a statement, Brewdog founder James Watt called the partnership with Budweiser “transformational” and said it would bring the craft brewery to “every corner of the world’s largest beer market.”
Under the deal, Brewdog expects to start producing its beer at Budweiser China’s Putian craft brewery in the southeastern province of Fujian by the end of next month.
The company said it also plans to open several bars in the country over the next three years.
China, the world’s largest beer market, now accounts for less than 1% of Brewdog’s total sales.
It’s the company’s second tie-up in Asia, following a deal with Asahi in Japan in 2021, which Brewdog says helped it double its sales in the country.
The company says it currently has an international network of more than 110 bars, but only one in China. Brewdog Shanghai, which opened in 2020, is located in the Jing’an district of the city.
Headquartered in Scotland, the company employs more than 2,300 people and has breweries in the US state of Ohio, Berlin in Germany and Brisbane in Australia.
The company had reportedly planned to start selling shares on the London stock market in 2020, but postponed the move as the pandemic forced pubs and bars to close during the lockdown.
Mr Watt said Brewdog had no plans to resume selling shares anytime soon, but hinted it could happen before the end of this year.
According to Brewdog’s 2021 financial results, the annual operating loss was £5.5 million ($6.6 million).
