In this week’s edition of Last Call: Brewers Association CEO Bob Pease weighs in on the Boston Beer-Dogfish Head deal; Rob Tod wins a James Beard award; Bell’s and Loveland head to arbitration; the Texas Senate strips to-go-sales amendment from a bill; and more industry news.
Eight years ago, Dogfish Head and Boston Beer Company teamed up to brew a collaboration beer for the annual SAVOR craft beer and food pairing experience. Today, the two companies announced the signing of a definitive merger agreement valued at about $300 million. The deal is expected to close in the second quarter. As part of the transaction, Dogfish Head co-founders Sam and Mariah Calagione will receive about 406,000 shares of Boston Beer stock (NYSE: SAM), valued at $314.60 per share, making them the largest non-institutional shareholders in the company, behind Boston Beer founder Jim Koch.
Boston Beer Company’s first-quarter shipments increased 32.5 percent, to a record 1.1 million barrels, in an effort to supply its wholesalers with about six weeks of Truly Hard Seltzer ahead of the summer selling season.
Boston Beer Company officially returned to growth in 2018. The nation’s second largest craft beer company — which makes Samuel Adams, Angry Orchard, Twisted Tea, and Truly Hard Seltzer, among other offerings — posted double-digit growth in depletions, shipments and sales last year, according to an earnings report released Wednesday.
In this week’s edition of Last Call: Alvarez & Marsal reaches an agreement to sell DME Group’s main business; lawmakers threaten to limit dates for Boston beer gardens; and the U.S. House introduces the Craft Beverage Modernization and Tax Reform Act.
Boston Beer Company’s growth continued in the third quarter, as the company’s revenue increased 24.2 percent, while shipments (+23.5 percent) and depletions (+18 percent) also grew. During a call with investors and analysts Thursday evening, Boston Beer founder Jim Koch credited the company’s “key innovations” — Angry Orchard Rosé, Truly Berry variety pack, Truly Wild Berry, Samuel Adams Sam ’76 and Samuel Adams New England IPA — with driving the growth.
Boston Beer Company today reported its 2018 third-quarter earnings results, which were highlighted by a 24.2 percent increase in net revenue, to $306.9 million. The company — which makes the Samuel Adams, Angry Orchard, Twisted Tea, and Truly Spiked & Sparkling products — credited the revenue growth to a 23.5 percent increase in shipments during the quarter, which ended September 29.
During Boston Beer Company’s annual Great American Beer Festival breakfast, founder Jim Koch unveiled a new series of Samuel Adams ads and announced a new grant program that will give $1 million to early stage food and beverage companies. Koch said the new series of folksy ads, which highlight hop selection in Germany for Samuel Adams’ flagship Boston Lager, focus on “craftsmanship” and “artisanal values.” The ads end with the tagline: “Brewed inefficiently since 1984.”
In this week’s edition of Last Call: Boston Beer founder Jim Koch dines with President Trump; Buffalo Wild Wings considers sports betting; Interior Secretary Ryan Zinke’s ties to a Montana brewery project come under scrutiny; a federal appeals court rejects a challenge to the MegaBrew merger; and more news.
Boston Beer Company’s return to growth continued for a second consecutive quarter. The company — which makes the Samuel Adams, Angry Orchard, Twisted Tea, and Truly Spiked & Sparkling products — yesterday reported its second-quarter earnings results, which were highlighted by a 10.2 percent increase in net revenue to $273.1 million. For the 26-week period ending June 30, Boston Beer’s net revenue was up 13.2 percent, to $463.6 million.