WILLIAMSBURG — A Japanese brewing company's cash infusion into the 28-year-old Brooklyn Brewery will help the company expand in Brooklyn and beyond, according to an announcement Wednesday.
Japanese beer company Kirin Brewery bought a minority stake in Brooklyn Brewery — about 24 percent of the company, according to Kirin. The funds will partly go toward building forthcoming facilities at Brooklyn Navy Yard.
Brooklyn Brewery announced in May that it would be constructing a new headquarters, brewery and rooftop beer garden and restaurant, though it will still keep its Williamsburg location at 79 North 11th St.
Kirin’s investment will also be put toward growing Brooklyn Brewery's influence in Japan and Brazil, creating exclusive beers for Japanese drinkers, and potentially opening a restaurant in Japan in the future.
Brooklyn Brewery, founded in 1988 by Steve Hindy, currently employs more than 150 people, according to the company, though it's not clear how many of those jobs are located at the Williamsburg location.
The company also stands to benefit from a recent tax cut signed into law by Gov. Andrew Cuomo in late September, that gives craft brewers a 12-cent tax cut for the first 500,000 gallons they produce, and 3.86 cents for the next 15 million gallons.
All New York City brewers who make less than 60 million gallons a year are eligible.
"It’s an exciting time to be a craft brewer, and I’m proud to say that our beers are better than they’ve ever been and we remain at the cutting edge of craft brewing in everything we do," said Robin Ottaway, President of the Brooklyn Brewery.
