Craft Brewing and Distilling News for July 30, 2019July 30, 2019
•The Boston Beer Company saw net revenue jump 23% to $570.1 million in its fiscal first half ended in June. The company reports that depletions and shipments both increased, up 15% and 23%, respectively, over the same 26-week period in 2018. Shipment volume was roughly 2.5 million barrels for the period. Growth continues to be concentrated in the Truly Hard Seltzer and Twisted Tea brands, which are offsetting losses in Samuel Adams and Angry Orchard. Beginning next quarter, Boston Beer’s results will include sales and operating costs for Dogfish Head, which it recently acquired for $300 million. The company expects Dogfish Head to add 3%-4% in annual shipments and depletions growth and over $50 million in net revenue to its ledger.Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.
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