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Home / Business / The brewers of Sam Adams and Dogfish Head close with $ 300 million

The brewers of Sam Adams and Dogfish Head close with $ 300 million



The Boston Beer Company SAM ) – maker of the beer brand Samuel Adams and the second largest craft brewer in the United States – and the Delaware-based brewer Dogfish Head Craft Brewery announced on Thursday that it intends to merge the companies into a deal worth more than $ 300 million.

Dogfish Head founder Sam Calagione and his family will receive approximately 406,000 Boston Beer Company shares worth $ 314.60 per share. In addition, Dogfish Head shareholders will receive $ 173 million in cash.

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Dave Burwick, CEO of the Boston Beer Company, is merging that Lead the company.

"United, we have the highest quality, the most pronounced high-end portfolio, both in terms of price and on product perspective with the top sales organization to bring it to market," said Burwick. "We expect that over time, there will be more consolidation in the craft industry, and we will be in the best position to take advantage of these changes."

Dogfish Head is the 13th largest craft brewer in the United States, according to the industry group Brewers Association of 2018.
The Boston Beer Company is in a good position to carry out the acquisition. Net sales for the first quarter of 2019 were $ 251.7 million, an increase of 32.1% compared to the same period of 2018.
The consolidation of the two craft brewing companies is due to other well-known purchases in the United States Beer industry. For example, Ballast Point Brewing & Spirits was sold in 2015 to the mega beer company Constellation Brands for $ 1 billion.

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