Anheuser-Busch To Buy Out Craft Brew Alliance

(RTTNews) - Anheuser-Busch InBev SA announced plans to buy the remaining Craft Brew Alliance's shares it does not already own for $16.50 per share in cash.

Anheuser-Busch previously held 31.2% stake in the Craft Brew Alliance. The company had said in August it would not buy out the company and that its existing commercial partnership with Craft Brew Alliance was a key complement to its craft portfolio.

Michel Doukeris, CEO of Anheuser-Busch, said, "Our partnership with CBA goes back many years and we look forward to supporting CBA as they continue to bring great products to beer drinkers across the U.S."

"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," said Andy Thomas, CEO of CBA. "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."

The transaction is subject to customary closing conditions, including approval by a majority of CBA's shareholders and certain regulatory approvals. The transaction is expected to close in 2020.