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Brewer Anheuser-Busch has closed on its purchase of Craft Brew Alliance, the company announced Wednesday.
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The deal brings popular craft and regional beer brands like Kona Brewing Co., Widmer Brothers Brewing and Redhook under Anheuser-Busch. The company said it would move the brands under its Brewers Collective craft beer business group.
“Connecting with consumers through our brands is at the forefront of everything we do,” Anheuser-Busch CEO Michel Doukeris said in a press release.
Craft Brew Alliance shareholders will receive $16.50 in cash per share under the deal, which Anheuser-Busch previously said was valued at $321 million.
Anheuser-Busch has worked with the brands for decades as a distributor and previously took a 31.2% stake in Craft Brew Alliance.
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“After a successful partnership that spans more than 25 years, we are excited to now fully welcome CBA into the A-B family and continue to work together to bring more consumers, in more communities, even more choices for every occasion,” Doukeris said.
The acquisition grows Anheuser-Busch’s Brewers Collective business to more than 3,200 employees at more than 40 breweries and other facilities.