Lagunitas and Heineken Enter into 50/50 JV

Dear Client:As BBD reported this morning, Heineken and Lagunitas are announcing a JV between the two companies.A few things to stress about this deal: It's between Heineken global and Lagunitas; it has nothing to do with HUSA. And it's not an acquisition, but a true, 50/50 joint venture, by DOJ standards. (And the move wasn't for capital needs. We understand that Lagunitas has a $190 million line of credit to see their brewery projects through.)The transaction is subject to customary