Dutch brewing company Heineken has acquired a 50% stake in US-based Lagunitas Brewing for an undisclosed sum.

Upon completion of the acquisition, Heineken wil own a 100% stake in the firm, which will operate as an independent company but will report within Heineken’s Americas region.

Heineken's chairman of the executive board and chief executive officer (CEO) Jean-François van Boxmeer said: "Our partnership with Lagunitas has been a great success and today's announcement marks the next stage of an exciting journey.

“We look forward to accelerating the roll-out of the Lagunitas brand to many more markets and sharing Lagunitas craft beer with many more consumers around the world."

"We look forward to accelerating the roll-out of the Lagunitas brand to many more markets."

After acquiring a 50% stake in 2015, Heineken has helped Lagunitas expand its international presence, including entry into new markets such as France, Mexico, Italy, and Spain.

The brand's availability was also expanded in markets such as the UK, Canada, Netherlands, Sweden, and Japan. After closing the transaction, Heineken intends to further expand Lagunitas brand to other markets worldwide.

Lagunitas' founder and executive chairman Tony Magee said: "During the 19 months of our partnership we have come to trust and truly believe in each other.

“Through that, we have found ourselves aligned on how to bring the vibe of US craft-brewing to beer lovers everywhere. Only by fully committing to this relationship can we both respond to the historic opportunity that awaits us in all 24 time zones."