Dogfish Head to merge with Boston Beer Company
Delaware-based independent brewery Dogfish Head is merging with Boston Beer Company - the makers of Sam Adams and Angry Orchard.
The merger is valued at about $300 million.
The Boston Beer Company says Dogfish Head shareholders will receive 173 million dollars in cash. Dogfish founder Sam Calagione and his wife Mariah will receive about 406,000 Boston Beer shares and he will join the company's board along with its founder Jim Koch in 2020.
The deal is expected to close in the second quarter of this year.
The Brewers Association lists Boston Beer Company as the second-largest craft beer maker - while Dogfish Head, located in Milton, is ranked the 13th largest craft brewery.
But in its own blogpost, Dogfish says the two companies combined account for less than 2% of the beer in the sold U.S. and the merger will better position the two breweries to compete with larger international beer conglomerates.