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Boston Beer Co. agrees to merger with Dogfish Head Brewing in deal worth $300m
US breweries Boston Beer Co. and Dogfish Head Brewing have agreed to merge their businesses in a deal worth $300 million.
Boston Beer Co, which produces Sam Adams, agreed to buy Dogfish Head Brewery in a deal which will see two of the country’s pioneering craft breweries join forces.
The acquisition, which is estimated to be worth $300 million, is the largest in Boston Beer’s history.
Dogfish’s founder, Sam Calagione, will get $127 million of shares in Boston Beer, reports Bloomberg, which will make him the second-biggest shareholder behind Boston founder Jim Koch.
Boston Beer will also put forward $173 million to buy back a stake in the Delaware brewery currently owned by private equity firm LNK Partners.
The purchase will help the Boston brewery, which is one of the 10 largest brewers in the USA, as well as one of the country’s biggest independent beer producers, improve its portfolio range.