Craft Brewing and Distilling News for November 12, 2019November 12, 2019
•Anheuser-Busch InBev (ABI) has agreed to take full control of Craft Brew Alliance (CBA) in a deal worth $220 million, acquiring the roughly 69% of CBA that it didn’t already own. The new accord, which was made for $16.50 a share, comes three months after ABI declined its option to acquire the remainder of CBA for $24.50 a share under a previous agreement. CBA’s portfolio is led by Hawaii’s Kona Brewing, and also includes Redhook, Omission, Appalachian Mountain Brewery, Square Mile Cider, Widmer Brothers, and Wynwood brewing. CBA’s depletions rose 1% in the second quarter, led by the Kona brand, while net income was at $2.6 million, down from $4.5 million a year earlier. Net sales slipped 1.6% to $107.6 million in the first half of 2019, year-on-year.
•Seattle, Washington’s Pyramid Brewing Co. has launched Snow Cap Winter Ale, the brewery’s annual seasonal release. The 7% abv ale is brewed with caramel and chocolate malts, plus Nugget, Willamette, and East Kent Goldings hops, and is one of the first Pyramid brews to receive updated packaging, deemphasizing the pyramid logo. Snow Cap is now available on draft, in 6-packs of 12-ounce bottles, and in 22-ounce bottles throughout Pyramid’s distribution footprint. The brewery will celebrate the release with its annual Keg Tree lighting at Pyramid Alehouse on November 30.Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.