Heineken Buying 50 Percent Stake In Petaluma Brewer Lagunitas

PETALUMA (CBS/AP) -- Heineken is taking a 50 percent stake in Petaluma brewer Lagunitas, giving the Dutch brewer access to the growing craft beer market.

Lagunitas Craft Brewing Co. is the fifth-largest craft brewer in the U.S. by volume. Its beers include Lagunitas IPA, Hop Stoopid and Maximus.

Aside from its Petaluma headquarters, Lagunitas operates a breweries in Chicago and is building a third in Azusa, California.

Lagunitas is sold in Canada, Sweden and Japan, aside from the U.S. The deal with Heineken will allow it to expand to more global markets.

Financial terms of the deal were not disclosed. The transaction is expected to close in the fourth quarter.

In Petaluma, the deal had everyone buzzing.

"I went on my Facebook, and it's what everyone's ranting and raving about," McNear's Saloon & Dining House Bartender Greg Johnson said.

Tony Marks, who lives in Petaluma, hopes the beer will still taste the same.

"They're retaining enough to still have control over it, so hopefully it will stay the same."

© Copyright 2015 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.