{"id":"TBU-ANSWER-00000051","questionId":"TQ-011","questionSlug":"ultimate-owner","entityTuid":"TB-J7530ZF3","entitySlug":"bell-s-brewery","entityType":"brewery","question":"Who ultimately owns this brewery?","answerType":"ULTIMATE_OWNERSHIP","effectiveFrom":"2021-12-31","effectiveTo":null,"publicCitations":[{"sourceId":"src-answers-pass02-0006","whatItProves":"Kirin Holdings' group structure","accessedDate":"2026-09-07","public":true,"title":"Kirin Holdings — group companies","url":"https://www.kirinholdings.com/en/company/group/","publisher":"Kirin Holdings Company, Limited"},{"sourceId":"src-answers-pass03-0002","whatItProves":"Lion among Kirin's main subsidiaries","accessedDate":"2026-09-07","public":true,"title":"Kirin Report 2024 — main subsidiaries","url":"https://www.kirinholdings.com/en/investors/files/pdf/kirinreport2024_02.pdf","publisher":"Kirin Holdings Company, Limited","publicationDate":"2024"},{"sourceId":"src-answers-pass03-0007","whatItProves":"New Belgium as the immediate company after the 2023 merger","accessedDate":"2026-09-07","public":true,"title":"Bell's Brewery merges with the New Belgium brand under Kirin ownership","url":"https://www.westword.com/restaurants/bells-brewery-new-belgium-kirin-12763092","publisher":"Denver Westword"}],"timeline":[],"researchGaps":[{"gapType":"POST_2025_SHAREHOLDING","description":"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.","status":"OPEN"}],"uncertaintyNote":"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.","relatedAnswerIds":[],"revision":2,"previousRevisionId":"TBU-ANSWER-00000051","createdAt":"2026-09-06T00:00:00Z","updatedAt":"2026-09-07T00:00:00Z","canonicalAnswer":"Kirin Holdings Company, Limited","ultimateParent":"Kirin Holdings Company, Limited","answerStatus":"YES","verification":"VERIFIED","lastVerified":"2026-09-07","evidenceStrength":"B","howTallyKnows":"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.","publicationStatus":"PUBLIC","publicationReason":"YES + VERIFIED, all named entities resolve","entityResolution":{"resolved":[{"name":"Kirin Holdings Company, Limited","type":"COMPANY","id":"kirin","how":"exact name"},{"name":"New Belgium Brewing Company, Inc.","type":"COMPANY","id":"newbelgium","how":"exact name"}],"unresolved":[]},"directOwner":null,"claims":[{"claimId":"TBU-CLAIM-00000209","subject":{"tuid":"TB-J7530ZF3","name":"bell-s-brewery","type":"brewery"},"predicate":"ULTIMATELY_OWNED_BY","object":{"name":"Kirin Holdings Company, Limited","type":"company","ownerType":null},"validFrom":"2021-12-31","validTo":null,"verification":"VERIFIED","evidenceStrength":"B","citationIds":["src-answers-pass02-0006","src-answers-pass03-0002"],"note":null,"archiveClaimRef":null},{"claimId":"TBU-CLAIM-00000210","subject":{"tuid":"TB-J7530ZF3","name":"bell-s-brewery","type":"brewery"},"predicate":"OWNED_BY","object":{"name":"New Belgium Brewing Company, Inc.","type":"company","ownerType":null},"validFrom":"2023","validTo":null,"verification":"VERIFIED","evidenceStrength":"B","citationIds":["src-answers-pass03-0007"],"note":"The immediate company, stated separately from the top of the chain.","archiveClaimRef":null}],"hasInternalEvidence":false,"indexing":{"index":true,"reason":"YES + VERIFIED"},"canonicalRoute":"/answers/ultimate-owner/bell-s-brewery","apiRoute":"/api/answers/ultimate-owner/bell-s-brewery","relatedQuestions":[{"questionSlug":"who-owns","question":"Who owns this brewery?","status":"PARTIALLY","answered":true,"canonicalRoute":"/answers/who-owns/bell-s-brewery","apiRoute":"/api/answers/who-owns/bell-s-brewery"},{"questionSlug":"is-independent","question":"Is this brewery independent?","status":"YES","answered":true,"canonicalRoute":"/answers/is-independent/bell-s-brewery","apiRoute":"/api/answers/is-independent/bell-s-brewery"},{"questionSlug":"who-founded","question":"Who founded this brewery?","status":"NOT_YET","answered":false,"canonicalRoute":null,"apiRoute":null},{"questionSlug":"when-founded","question":"When was this brewery founded?","status":"NOT_YET","answered":false,"canonicalRoute":null,"apiRoute":null},{"questionSlug":"lifecycle-status","question":"What is this brewery's current lifecycle status?","status":"NOT_YET","answered":false,"canonicalRoute":null,"apiRoute":null},{"questionSlug":"operator","question":"Who operates this brewery or site?","status":"NOT_YET","answered":false,"canonicalRoute":null,"apiRoute":null}]}