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<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><a href="https://www.flickr.com/photos/langille/6408684047/">gLangille/Flickr</a></div></div></div>A major Japanese beer company just acquired at stake in New York's largest craft brewer. Kirin Holdings Co. has acquired a roughly 25% stake in Brooklyn Brewery, the companies announced on Wednesday. As part of the deal, Kirin's beer-centric division, Kirin Brewing Co., and Brooklyn Brewery will establish a joint-venture in Japan in early 2017, as well as expanding Brooklyn Brewery beer in Brazil. "This investment is part of a broader strategy to form partnerships and collaborate around the world to build our brand and help grow craft beer wherever we go," Robin Ottaway, the President Brooklyn Brewery, wrote in a <a href="http://brooklynbrewery.com/blog/brewery-expansion/brooklyn-brewery-expands-its-reach-2/">blog post </a>on Brooklyn Brewery's website. "But let me be entirely clear - Eric and I will continue to control and operate the Brooklyn Brewery for many years to come. Kirin's investment allows us to do that and a lot more."The deal is part of a larger trend of beer giants turning to craft beer for growth, especially when it comes to attracting younger drinkers. <div class="KonaFilter image-container display-table"><div><div class="image on-image">Thomson ReutersJapanese beer of brands such as Asahi, Kirin and Suntory are placed in a fridge at a store in Tokyo </div></div></div>Kirin the<a href="https://www.bloomberg.com/news/articles/2016-10-12/kirin-said-to-buy-stake-in-brooklyn-brewery-in-craft-beer-chase"> second-largest brewer in Japan,</a> as the maker of beers such as Kirin Lager and Ichiban Shibori. In 2014, the company began its serious investment in craft with the purchase of a 33% stake in Japanese craft beer Yo-Ho Brewing Co., <a href="https://www.bloomberg.com/news/articles/2016-10-12/kirin-said-to-buy-stake-in-brooklyn-brewery-in-craft-beer-chase">reports Bloomberg.</a>Brooklyn Brewery is the 12th largest craft beer maker in the US by beer sales volume, and the biggest craft brewer in New York, according to<a href="https://www.brewersassociation.org/press-releases/brewers-association-lists-top-50-breweries-2015/"> Brewers' Association data. </a>With the acquisition, Brooklyn Brewery can continue to label itself as a craft beer, despite Kirin's partial ownership. However, the friction between craft beer and international beer giants is bigger that a simple definition. Craft beer is a swiftly growing part of the beer industry. In 2015, craft beer was a<a href="https://www.brewersassociation.org/press-releases/small-independent-brewers-continue-grow-double-digits/"> $22.3 billion business</a> in the US, accounting for 21% market share by dollars - an increase of 16% from 2014. However, as craft beer gets hotter, bigger beverage companies are increasingly interested in investing themselves. Craft beer acquisitions by major companies, such as Ballast Point to Constellation Brands, Saint Archer to MillerCoors, and Golden Road to Anheuser-Busch InBev, have made many craft brewers concerned about the future of the industry. <div class="KonaFilter image-container display-table"><div><div class="image on-image">Business Insider Video</div></div></div>"People are genuinely concerned: Are the big brewers starting to even monopolize craft brewing?" Darby Hughes, trends analyst at food and beverage brand-building boutique Quench, <a href="http://www.businessinsider.com/4-beer-industry-trends-to-expect-in-2016-2015-12">told Business Insider</a> last year. And, for many craft brewers, acquisition means the surrender of a breweries fundamental values. "We support craft, and craft breweries should be independent, not bastardized by megacorporations who will compromise the quality of the beer to cut corners, cut people, and make a profit," Sarah Warman, craft brewer BrewDog's head of marketing, <a href="http://www.businessinsider.com/the-ugliest-feud-in-craft-vs-big-beer-2016-3">told Business Insider in March.</a>Brooklyn Brewery, however, says that the acquisition will only serve to make the craft brand more accessible and international. In fact, Ottaway argues that Kirin is key to independence, writing in the post: "This investment allows Steve, Garrett Oliver, Eric and me to achieve our #1 goal - to remain an independent owned and operated brewery (as defined by the Brewers Association)." <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/sam-adams-jim-koch-beer-making-brewery-boston-2016-6">What happened when the Sam Adams founder told his dad he was quitting a $250,000-a-year job to make beer </a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="BwanBmNDE6tsj47DxjI2QhF5geZhVI-k" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

A Japanese beer company just acquired a stake in the biggest craft brewer in New York

B9 Beverages Ltd, Bira 91's parent company, on Wednesday said it is raising $25 million in new funding from <keyword id="20841250" type="General" weightage="20" keywordseo="tiger-pacific-capital" source="keywords">Tiger Pacific Capital</keyword>, an Asia-focused fund headquartered in New York and Hong Kong. The new investment is part of a $50 million round raised by the company, with participation from its existing investor, <keyword id="20635955" type="General" weightage="20" keywordseo="kirin-holdings" source="keywords">Kirin Holdings</keyword> of Japan, and Tiger Pacific Capital from New York, it said in a statement. "As Bira 91 takes next steps to drive growth across markets and strengthen its supply chain, this new partnership will strengthen the company's balance sheet considerably," said <keyword id="20841253" type="General" weightage="20" keywordseo="ankur-jain" source="keywords">Ankur Jain</keyword>, Founder and CEO, Bira 91. With this capital, "we will expand our manufacturing footprint to new regions, including Uttar Pradesh," he added. The company has six large-scale manufacturing plants in the country. Bira 91 is now the fourth largest beer company in <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword>, behind only multinationals like Heineken, AB-Inbev and Carlsberg, and has experienced strong double-digit growth since its inception 9 years ago. The company also owns the country's largest beer-focused pub chain, The Beer Cafe. "We are excited to partner with emerging companies in India, especially brands like Bira 91 with a unique understanding of the new Indian consumer, and a strong local manufacturing footprint," said <keyword id="20847970" type="General" weightage="20" keywordseo="run-ye" source="keywords">Run Ye</keyword>, Founder of Tiger Pacific Capital. Founded in 2015, B9 Beverages is backed by leading investors including Japan's leading beer company, Kirin Holdings, Japan's largest bank, MUFG Bank, Sofina of Belgium, and Peak XV Partners (formerly Sequoia India). SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/nothing-phone-2a-smartphone-debuts-in-india-priced-starting-at-23999/articleshow/108240037.cms">Nothing Phone (2a) smartphone debuts in India, priced starting at ₹23,999</a> <a href="https://www.businessinsider.in/business/auto/news/electric-two-wheeler-sales-grow-by-24-in-february-2024-ola-electric-leads-with-over-40-market-share/articleshow/108227956.cms">Electric two-wheeler sales grow by 24% in February 2024, Ola Electric leads with over 40% market share</a> <a href="https://www.businessinsider.in/tech/mobile/news/xiaomi-14-to-launch-in-india-on-march-7-to-take-on-the-galaxy-s23-and-oneplus-12/articleshow/107841326.cms">Xiaomi 14 to launch in India on March 7, to take on the Galaxy S23 and OnePlus 12</a>

Bira 91 raises $25 mn to expand manufacturing footprint

<ul class="summary-list"><li><keyword id="6357456" type="ORGANIZATION" weightage="60" keywordseo="huawei">Huawei</keyword> is selling its budget smartphone brand <keyword id="461983" type="PERSON" weightage="60" keywordseo="honor">Honor</keyword> following <keyword id="421069" type="ORGANIZATION" weightage="60" keywordseo="US-sanctions">US sanctions</keyword> squeezing its business.</li><li>Honor is being sold to a consortium of more than 30 organizations, and Huawei will hold no shares in it following the sale.</li><li>One analyst told Reuters that Huawei had left itself room to pursue a potential buyback in future.</li></ul>Huawei is selling its budget brand smartphone unit Honor to a consortium of more than 30 agents and dealers in a bid to keep it alive, the company and the consortium said on Tuesday.The deal comes after <a href="https://www.theverge.com/2020/8/9/21360598/huawei-chips-us-sanctions-trump-china-privacy-smartphone">US government sanctions have restricted supplies to the Chinese company</a> on grounds the firm is a national security threat — which it denies.The consortium issued a statement on Tuesday announcing the purchase, which will be made via a new company, Shenzhen Zhixin New Information Technology.Huawei will not hold any shares in the new Honor company after the sale, the statement said.In Huawei's statement, the company said its consumer business has been under "tremendous pressure" due to the "persistent unavailability of technical elements" for its phone business."This move has been made by Honor's industry chain to ensure its own survival," Huawei said.The change of ownership will not impact Honor's development direction, both statements said.No figure for the deal was given.Sources with knowledge of the matter say US government restrictions have forced the world's second-biggest smartphone maker — after South Korea's Samsung — to focus on high-end handsets and corporate-oriented business.One source said on Tuesday the US government will have no reason to apply sanctions to Honor after it separates from Huawei.Honor sells its smartphone in China, Southeast Asia and Europe, and ships 70 million units annually according to Huawei.Honor will look for more investment partners in the future, with the possibility of an eventual listing, the source said.Reuters reported earlier this month that Huawei was in talks to sell Honor in a 100 billion yuan ($15.2 billion) deal to a consortium led by handset distributor Digital China and the Shenzhen government.Huawei has said its higher-end smartphone line is also under threat from the US sanctions, with the head of its consumer business saying in August that it would be <a href="https://www.theverge.com/2020/8/9/21360598/huawei-chips-us-sanctions-trump-china-privacy-smartphone">unable to continue making the Kirin chips</a> that power its premium models.Offloading Honor will give Huawei some "breathing room" on the sourcing side for its premium business while it focuses on developing its proprietary HarmonyOS for smartphones, said Nicole Peng, vice president of mobility at industry research consultancy Canalys.The sale will help to sustain the brand, while allowing the possibility of buying Honor back some day, said Will Wong, an analyst at IDC."It will be easier for Huawei to make a potential buyback in the future from this consortium, which might not be so easy if they sell it to other smartphone or electronics makers," he said.

Huawei is selling off its budget smartphone brand Honor after getting hammered by US sanctions

Good morning! This is the tech news you need to know this Monday. <a href="http://newsletter.businessinsider.com/join/4np/10-things-in-tech&amp;hash=8122c716833601fc1471f79af063b104b104">Sign up here</a> to get this email in your inbox every morning.<ol><li><a href="https://www.wsj.com/articles/twitter-tiktok-have-held-preliminary-talks-about-possible-combination-11596925449?mod=hp_lead_pos1">TikTok and Twitter are starting to talk about a possible combination, the WSJ reported</a>. Amid President Donald Trump's threats to ban TikTok, or force it to sell its US operations, Twitter was reported to be in talks with the video-sharing app Saturday night.</li><li><a href="https://www.businessinsider.com/tiktok-to-sue-trump-administration-early-as-tue-npr-reports-2020-8?r=US&amp;IR=TIR=T">TikTok is planning to sue the Trump administration over its ban as early as Tuesday, according to NPR</a>. President Donald Trump's recent executive order banned US individuals and companies from engaging in "any transaction" with Chinese firm ByteDance, the app's parent company. </li><li><a href="https://www.businessinsider.com/amazon-looks-to-turn-malls-into-giant-fulfillment-centers-report-2020-8?r=US&amp;IR=TIR=T">Amazon reportedly wants to take over JCPenney and Sears stores to turn malls into giant fulfilment centers</a>. Amazon is in talks with the biggest mall owner in the US to take over retail space and turn them into giant Amazon fulfillment centers, The Wall Street Journal reported.</li><li><a href="https://www.wsj.com/articles/tech-financial-firms-discussing-ways-to-save-tiktoks-u-s-operations-from-trump-ban-11597014729?mod=djemalertNEWS">Venture capital fund Sequoia Capital and the fund's global managing partner Doug Leone have been lobbying the Trump administration to find a solution that would keep TikTok alive in the US</a>. Sequoia funds hold just over 10% in the company, a stake worth more than $10 billion, with the investor pushing White House contacts to solve the issue, the WSJ reported. </li><li><a href="https://www.businessinsider.com/bill-gates-calls-microsofts-potential-tiktok-deal-a-poison-chalice-2020-8?r=US&amp;IR=TIR=T">Bill Gates called Microsoft's potential TikTok deal a 'poison chalice' and said 'who knows what's going to happen</a>.' In an interview with WIRED, the billionaire Microsoft cofounder Bill Gates talked about the state of US coronavirus testing, vaccines, and Microsoft's potential TikTok deal.</li><li><a href="https://apnews.com/270e93e985733a4d086c06a01375cea0">Chinese tech giant Huawei is running out of processor chips to make smartphones due to US sanctions and will be forced to stop production of its own most advanced chips</a>. Production of Kirin chips designed by Huawei's own engineers will stop September 15 because they are made by contractors that need US manufacturing technology, the AP reported.</li><li><a href="https://www.businessinsider.com/flexible-remote-working-new-norm-european-tech-startups-revolut-2020-8">Europe's tech unicorns are following Silicon Valley's lead on flexible working post-pandemic: in with long-term remote working, out with high-density open plan offices</a>. Revolut, the $5.5 billion London banking challenger, says 70% of its employees don't want to return to working how they were pre-pandemic.</li><li><a href="https://www.businessinsider.com/pulledover-app-to-record-police-when-stopped-2020-7?r=US&amp;IR=TIR=T">A 17-year-old high school student developed an app that records your interaction with police when you're pulled over and immediately shares it to Instagram and Facebook</a>. Aaditya Agrawal told Business Insider that he was compelled to create the app in part after a close friend of his, who is Black, was pulled over without cause.</li><li><a href="https://www.macrumors.com/2020/08/10/kuo-wechat-ban-iphone-shipments/?scrolla=5eb6d68b7fedc32c19ef33b4">iPhone shipments could decline up to 30% if Apple is forced to remove WeChat from its worldwide app store</a>. In a worst-case scenario, Apple's annual iPhone shipments could decline by 25–30% if it is forced to remove WeChat from its App Stores around the world, according to a new research note from analyst Ming-Chi Kuo viewed by MacRumors.</li><li><a href="https://www.businessinsider.com/71-us-tech-employees-move-abroad-work-remotely-2020-8?r=US&amp;IR=TIR=T">More than 70% of US startup workers would move abroad if they could do their job remotely, according to new research</a>. Within five years, 43% of jobs could be based outside of the US state they are currently in, according to a survey from Remote and Sapio Research.</li></ol>Have an Amazon Alexa device? Now you can hear <keyword id="9070519" type="UNKNOWN" weightage="60" keywordseo="10-things-in-tech">10 Things in Tech</keyword> each morning. Just search for "Business Insider" in your Alexa's flash briefing settings.

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A Japanese beer company just acquired a stake in the biggest craft brewer in New York

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Bira 91 raises $25 mn to expand manufacturing footprint

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Huawei is selling off its budget smartphone brand Honor after getting hammered by US sanctions

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