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This Kona’s for You!
They made the deal after all and even got the craft beer family at a discount…
Anheuser-Busch InBev made an unexpected U-turn after turning down a deal to acquire the rest of Craft Brew Alliance (CBA) in August, and has announced the purchase of the whole company in an estimated US$321 million deal…
The world’s largest brewer got the craft beer collective, which includes the bestselling Kona Brewing among others, for a cheaper price than if they had purchased the CBA four months ago…
According to MarketWatch Craft Brew Alliance Shares took a hit in August and into September, “after AB InBev decided not to buy the company for a previously agreed-upon higher price.”
Commenting on the renewed acquisition, Andy Thomas, CEO of CBA was as pleased as he was most likely relieved…
“Anheuser-Busch has a long track record of working with its craft partners to help make the US beer category stronger and more vibrant.”
“The announcement represents an exciting next step in a long and successful partnership with Anheuser-Busch, whose support for the growth of our business and brands traces back over 25 years.
“By combining our resources, our talented teammates, and dynamic brands, we will look to nurture the growth of CBA’s existing portfolio as we continue investing in innovation to meet the changing needs of today’s beverage consumers, all while delivering certainty of value to our shareholders.”
Refraining from gloating that his company was able to acquire its ‘partner’ at a discounted price, Michel Doukeris, CEO of AB InBev smartly struck a positive tone about the purchase….
“Our partnership with CBA goes back many years and we look forward to supporting CBA as they continue to bring great products to beer drinkers across the US.”
Based in Portland, Oregon and founded in 2008, the CBA is a collection of craft brewing brands including Kona Brewing, Appalachian Mountain Brewery, Cisco Brewers, Omission Brewing Co., Redhook Brewery, Square Mile Cider Co., Widmer Brothers Brewing, and Wynwood Brewing Co. Beers produced by the group are available in all US states and in 30 countries around the world.
The deal which is subject Craft Brew shareholder approval is expected to close in 2020.
