Who ultimately owns this brewery?

From the archive

Kirin Holdings Company, Limited

VERIFIEDYESEvidence BChecked 2026-09-07

Since: 2021-12-31
Ultimate parent: Kirin Holdings Company, Limited

From 1 October 2025 New Belgium reports directly to Kirin Holdings rather than through Lion. Kirin's own announcement still describes New Belgium as Lion's US craft subsidiary, so Tally treats that as a reporting change and keeps Lion in the chain. The top of the chain is unaffected either way.

How Tally knows

Bell's has sat within the Kirin group since the Lion transaction closed at the end of 2021, and it stayed there through the 2023 merger into New Belgium — the group did not change, the immediate company did. The chain runs Bell's, New Belgium Brewing Company, Lion, Kirin Holdings Company, Limited.

Evidence

3 sources

Kirin Holdings — group companies — Kirin Holdings Company, Limited (accessed 2026-09-07) Proves: Kirin Holdings' group structure
Kirin Report 2024 — main subsidiaries — Kirin Holdings Company, Limited (2024) Proves: Lion among Kirin's main subsidiaries
Bell's Brewery merges with the New Belgium brand under Kirin ownership — Denver Westword (accessed 2026-09-07) Proves: New Belgium as the immediate company after the 2023 merger

Connections

bell-s-breweryultimately owned byKirin Holdings Company, Limited2021-12-31–present · B
bell-s-breweryowned byNew Belgium Brewing Company, Inc.2023–present · B

What we still don’t know

Whether the October 2025 reporting change was accompanied by a transfer of New Belgium's shareholding from Lion to Kirin Holdings is not established. Kirin's announcement describes a reporting relationship only.