Boston Beer Co (Sam Adams) and Dogfish Head are "merging"
Press release from Boston Beer.
Highlights from the press release:
- The combined company will be led by Boston Beer CEO, Dave Burwick.
- Sam Calagione (of DFH) and his family will receive approximately 406,000 shares of Boston Beer stock based on a share price of $314.60. Dogfish Head shareholders will also receive $173 million in cash.
- Sam Calagione will join Boston Beer's Board of Directors.
- The combined company will maintain its status as an independent Craft brewery, as defined by the Brewers Association (well under 6M barrels/yr).
So mostly it's Sam Adams buying out Dogfish Head, except they get a board seat. Sounds like a good plan to me.