Anheuser-Busch Inbev is buying the rest of Craft Brew Alliance that it does not own in a deal valued at about $321 million.
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Anheuser-Busch already owns a 31.2 percent stake in the company and has offered $16.50 in cash for the rest of the shares.
That price represents a 125 percent premium to Craft's share price as of Monday close.
|BREW||CRAFT BREWERS ALLIANCE INC||14.90||-0.03||-0.20%|
The vast majority of CBA's brands are already distributed through A-B's network of independent wholesalers, per the companies' existing commercial agreement.
"Today’s 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," said Andy Thomas, CEO of CBA. "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."
CBA would join A-B’s Brewers Collective – a collection of craft partners spread throughout the country.
In the last three years, A-B has invested more than $130 million in its craft partners.
"Anheuser-Busch has a long track record of working with its craft partners to help make the U.S. beer category stronger and more vibrant," said Michel Doukeris, CEO of Anheuser-Busch. "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 U.S."
The transaction is expected to close in 2020.