Australian beer company Lion has acquired 100 per cent of Huddersfield-based craft brewer Magic Rock Brewing Company.
Magic Rock employs 45 people locally with plans to build the team further.
Co-founder and managing director Richard Burhouse will remain actively involved in the business going forward.
Magic Rock is already in more than 25 countries worldwide and over time it sees opportunities to further grow its footprint with the support of Lion.
Matt Tapper, Lion Global Markets managing director, said: “Magic Rock has been one of the pioneers in the UK craft beer scene and has built a loyal following due to its relentless pursuit of authenticity and quality.
“We’re excited to have the opportunity to help Richard and the team build on their success.
“Lion has a long and proud history in craft beer in Australia and New Zealand and we see some great opportunities to help put Magic Rock into the hands of more beer lovers.”
Magic Rock was founded by Mr Burhouse and head brewer Stuart Ross in 2011.
Mr Burhouse said: “With the support of the beer community, in eight years Magic Rock has become one of the UK’s leading craft brewers, distributing across the UK, as well as internationally.
“The best way for us to build on this legacy over the long term is to introduce Magic Rock beers to a much wider audience.”
Magic Rock was advised by KPMG on the deal.
Christian Mayo, who leads KPMG’s corporate finance practice in Yorkshire, said: “This deal is indicative of the developing craft beer industry, where like-minded partners are coming together to support each other to grow.”