KALAMAZOO — Craft brewing pioneer Bell’s Brewery Inc., known for its popular Two Hearted Ale and Oberon brands, will be transitioning to new ownership.

Founder Larry Bell told the company on Wednesday at an all-employee meeting that he was selling the popular Kalamazoo-based brewery — the 16th largest in the country — to Australian brewing conglomerate Lion Little World Beverages, which also owns Fort Collins, Colo.-based New Belgium Brewing Co.

The transaction, which Bell’s Brewing frames as a partnership with New Belgium, marks a complete exit for Bell, who founded the company in 1985, and daughter Laura Bell, who formerly served as CEO and is the brewery’s only other shareholder.

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