BOSTON BEER CO. AND DOGFISH HEAD TO MERGE.
Two craft beer heavyweights have come together.
The Boston Beer Company and Dogfish Head Brewing have signed a definitive merger agreement. The combined company will maintain its status as an independent craft brewery, as defined by the Brewers Association. It will be "better positioned to compete against the global beer conglomerates within the craft beer category that are 50- and 100-times its size," the company says in a release.
This combination also brings together two of the leading founder-brewers in the U.S.: Jim Koch of Boston Beer, and Sam Calagione of Dogfish Head. Both will continue leading brewing innovation for the newly combined company.
Sam and Mariah Calagione, Dogfish Head's co-founders, will reportedly take substantially all of their merger consideration in the form of SAM stock and will collectively become the largest non-institutional shareholders after Koch. Sam will join Boston Beer's board of directors, while Dogfish Head's employees will join the Boston Beer team and continue to be heavily involved in beer and "beyond-beer" projects, the company says, as both breweries expand opportunities for future innovation.
The combined company will be led by Boston Beer CEO, Dave Burwick.
"This is a formidable combination of brands, incredible brewing talent, and leaders who remain 100 percent focused and committed to the long-term health of our breweries and growing the beer industry," Burwick says. "United, we will have the highest quality, most distinct, high-end portfolio, from both a price-point and product perspective with the top-ranked sales organization to bring it to market. We expect that we'll see more consolidation in the craft industry over time, and we'll be in the best position to take advantage of those changes.
Caption: Jim Koch of Boston Beer with Sam Calagione of Dogfish Head.
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|Title Annotation:||ON THE Web|
|Date:||Jul 1, 2019|
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