Three months after Anheuser-Busch InBev declined to make an offer to purchase the remaining stake of Portland-based Craft Brew Alliance (CBA), the world's largest beer company will now buy out the rest of the business for $220 million.
"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," Andy Thomas, CEO of Craft Brew Alliance, said in a press release. "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."
Anheuser-Busch currently owns a 31.2 percent stake in CBA and has offered $16.50 in cash for the remaining CBA shares. In August, the corporation decided not to purchase the rest for a minimum of $24.50 per share, opting instead to pay a $20 million fee. CBA stock was valued at $7.33 per share at the end of trading Monday, but was already on the upswing after news broke about the acquisition.
"The beer industry in the U.S. is competitive and dynamic, with more choices available to consumers than ever before," said Marcelo "Mika" Michaelis, president of Anheuser-Busch Brewers Collective. "CBA's diverse portfolio of regional breweries and innovative lifestyle brands is an excellent complement to our family of craft partners and would continue to help fuel the growth of the craft beer category."