Craft Brew Alliance (CBA) yesterday named Matt Gilbertson, Anheuser-Busch InBev’s North American vice president of M&A, treasury and corporate real estate, to its board of directors.
“Matt’s experience and extensive track record helping companies analyze growth strategies will be invaluable as we look to accelerate Kona’s global growth while exploring new opportunities to address changing consumer trends and drive shareholder value,” David Lord, the chairman of CBA’s board, said via a release.
As part of its minority ownership of CBA, A-B has the right to designate up to two individuals to serve on the company’s board.
Gilbertson supplants João Paulo Falcão Vieira, who stepped down as a CBA board member on December 31, following his departure from A-B InBev, where he also worked on mergers and acquisitions, according to LinkedIn.
Falcão Vieira had only served as a CBA board member for six months prior to his exit. He had filled a vacant seat created by Michael Taylor, who left a lucrative career in M&A with A-B to take over as the CEO of struggling San Diego craft beer maker Green Flash Brewing.
Gilbertson, who spent 10 years as a director of the investment banking and valuation firm Duff & Phelps prior to joining A-B, will “receive compensation for his services on the Board consistent with the company’s standard practices for non-employee directors,” according to an SEC filing.
His term is set to expire at the 2019 Annual Meeting of Shareholders, which will be held later this year.
The appointment comes about one month after CBA extended the contracts of CEO Andy Thomas and COO Scott Mennen through 2021, and about two weeks after it closed the Widmer Brothers pub after 22 years of operation.
A-B, which owns a 31.4 percent stake in CBA, has an opportunity to make a “qualifying offer” for the Portland, Oregon-headquartered craft beer company at a minimum of $24.50 per share in 2019. If A-B does not make a qualifying offer by August, it must pay CBA $20 million.
A press release with additional details about CBA’s newest board member is below.
Craft Brew Alliance Announces Matt Gilbertson as New Board Member
PORTLAND, Ore.– (BUSINESS WIRE) — Craft Brew Alliance, Inc. (“CBA”) (Nasdaq: BREW), a leading craft brewing company, announced today that Matthew E. Gilbertson has been appointed to its Board of Directors, effective February 4, 2019. Mr. Gilbertson replaces João Paulo Falcão Vieira, who departed CBA’s Board December 31, 2018.
“We are very pleased to welcome Matt to CBA’s Board of Directors”
“We are very pleased to welcome Matt to CBA’s Board of Directors,” said Craft Brew Alliance Chairman of the Board David Lord. “Matt’s experience and extensive track record helping companies analyze growth strategies will be invaluable as we look to accelerate Kona’s global growth while exploring new opportunities to address changing consumer trends and drive shareholder value. On behalf of the board, we also thank João for his strong support of CBA during his tenure with us.”
Mr. Gilbertson has served in multiple senior financial management roles within Anheuser-Busch InBev (“A-B”) since joining the company in 2014. He currently serves as Treasurer and a Vice President for the North American Zone. Before joining A-B, he served as a Director of Investment Banking at Duff & Phelps, LLC. Mr. Gilbertson holds an MBA from the University of Michigan Business School and a BS in Chemical Engineering from the University of Michigan, College of Engineering.
Mr. Gilbertson was designated to serve on the Board by A-B as part of CBA’s Amended and Restated Exchange and Recapitalization Agreement through which A-B has the right to designate up to two Board Members. Mr. Gilbertson fills the vacancy created by the resignation of Falcão Vieira, a previous A-B designee.
Statements made in this press release that state the Company’s intentions, hopes, beliefs, and expectations for the future, including strategies and opportunities to drive revenue growth and shareholder value, are forward-looking statements. Information concerning factors that could cause actual results to differ materially from those in the forward-looking statements is contained from time to time in the Company’s SEC filings, including, but not limited to, the Company’s report on Form 10-K for the year ended December 31, 2017. Copies of these documents may be found on the Company’s website, www.craftbrew.com, or obtained by contacting the Company or the SEC.
About Craft Brew Alliance
CBA is an independent craft brewing company that brews, brands, and brings to market world-class American craft beers.
Our distinctive portfolio combines the power of Kona Brewing Company, a dynamic, growing national craft beer brand, with strong regional breweries and innovative lifestyle brands, Appalachian Mountain Brewery, Cisco Brewers, Omission Brewing Co., Redhook Brewery, Square Mile Cider Co., Widmer Brothers Brewing, and Wynwood Brewing Co. CBA nurtures the growth and development of its brands in today’s increasingly competitive beer market through our state-of-the-art brewing and distribution capability, integrated sales and marketing infrastructure, and strong focus on partnerships, local community and sustainability.
Formed in 2008, CBA is headquartered in Portland, Oregon and operates breweries and brewpubs across the U.S. CBA beers are available in all 50 U.S. states and 30 different countries around the world. For more information about CBA and our brands, please visit www.craftbrew.com.