ST. LOUIS — Anheuser-Busch and Portland, Oregon-based Craft Brew Alliance on Wednesday announced that A-B's buyout of the Portland, Oregon-based craft brewer (Nasdaq: BREW) has been finalized.
In November, Anheuser-Busch agreed to acquire the remaining shares in Craft Brew Alliance (CBA) that it didn't already own, which was 31.2% at the time, and agreed to pay $16.50 per share in cash for the remaining shares. Reuters valued the deal at $321 million.
Earlier this month, the companies entered into an agreement with the U.S. Department of Justice they called “an important next step" toward closing their expanded partnership. The deal came after CBA shareholders' February approval of the partnership and CBA and A-B’s decision to sell CBA’s Kona Brewing operations in Hawaii to PV Brewing Partners, which counts as an investor Dave Peacock, former A-B president and current Schnuck Markets president and COO.
Effective Wednesday, CBA's portfolio of brands and breweries will join Anheuser-Busch's Brewers Collective group of craft brewing partners, officials said. "Kona Brewing Co.'s mainland and international operations and regional brands Appalachian Mountain Brewery, Cisco Brewers, Omission Brewing Co., Redhook Brewery, Square Mile Cider Co., Widmer Brothers Brewing, and Wynwood Brewing Co. will further strengthen the Brewers Collective portfolio," A-B officials said.
Most of CBA's brands already have been distributed through A-B's independent wholesaler network through an existing commercial agreement, including distribution and brewing agreements, until 2028.
"Connecting with consumers through our brands is at the forefront of everything we do," Michel Doukeris, CEO of Anheuser-Busch, said in a statement. "After a successful partnership that spans more than 25 years, we are excited to now fully welcome CBA into the A-B family and continue to work together to bring more consumers, in more communities, even more choices for every occasion."
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