PORTLAND, Ore. (KOIN) — Anheuser-Busch will have complete control over the Craft Brew Alliance after the companies announced a pending buy out in a joint statement Monday.
Previously, Anheuser-Busch owned a 31.2% stake in the Portland-based brewing company. The remaining shares were sold to the commercial giant for $16.50/share in a cash agreement.
“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, in the joint statement.
Under Anheuser-Busch’s ownership, the Craft Brew Alliance will be a part of the parent company’s Brewer’s Collective.
The brew alliance was the 7th largest craft brewing company in the United States, according to their website. The Kona Brewing Company, Widmer Brothers Brewing, and Redhook Brewery are among the brands that are part of the alliance. CBA is headquartered in Portland, and was already distributing beer and cider through Anheuser-Busch’s independent wholesale network.
Industry analysts say it’s a good business decision, but not so food for Portland’s craft beer scene.
“This year Bridgeport, which was Portland’s oldest brewery, closed,” said Jeff Alworth, author of The Widmer Way. “That left Widmer Brothers as the oldest Oregon brewery. Their sale to Anheuser-Busch, we’ve now lost in the course of a year our two oldest breweries.”
Before the announcement of the sale, Anheuser-Busch already owned several other craft brands, including Oregon’s 10 Barrel Brewing. The transaction is expected to be finalized in 2020, pending the approval of CBA shareholders who are not affiliated with Anheuser-Busch.