Craft Brew News - 11/15/19
(Courtesy of Brewbound – www.brewbound.com)

Anheuser-Busch Acquires Remaining Stake in Kona Maker Craft Brew Alliance

Anheuser-Busch InBev and Craft Brew Alliance (CBA) announced Monday that the world’s largest beer company will acquire the remaining 68.8% of CBA that it did not own for $16.50 per share in cash.

At the close of trading Monday, CBA stock (BREW) was valued at $7.33 per share. However, in after hours trading, the stock jumped to more than $16 per share.
CBA brand’s include Kona Brewing, Widmer Brothers, Redhook, Omission, Square Mile Cider, Wynwood Brewing, Cisco Brewers and Appalachian Mountain Brewery, as well as the pH Experiment. The portfolio of brands will join A-B’s craft division, the Brewers Collective, which includes acquired brands such as Goose Island, Elysian, 10 Barrel, Golden Road, and Wicked Weed, among others.

The new deal between A-B and CBA comes three months after A-B declined to make a qualifying offer to purchase the remaining stake in CBA for a minimum of $24.50 per share. Instead, A-B paid CBA a one-time fee of $20 million.

In 2018, CBA’s production hit almost 757,000 barrels, down about 1% from 2017 levels, according to the Brewers Association. However, the Kona brand alone in 2019 is pacing at 500,000 barrels.

Drake, Canopy Growth Partner Up

Canopy Growth, the Canadian cannabis company in which Constellation Brands invested $4 billion, announced yesterday that it will partner with Drake to launch the More Life Growth Company, a cannabis producer in Toronto.

Drake said in a press release “The idea of being able to build something special in an industry that is ever growing has been inspiring,”

Drake, a Toronto-based rapper and entertainer whose full name is Aubrey Drake Graham, will own 60% of More Life, while Canopy will own the remaining stake in the business. Canopy will hold distribution rights and manage operations and maintenance at More Life’s facility in Scarborough, Ontario.

Drake posted a photo to his Instagram account Thursday with More Life’s logo and tagged the new company’s still-private account.

Walmart Curbside Pickup Extends to Include Alcohol Purchases

Walmart last week extended its curbside grocery pickup service to include alcohol purchases at 2,000 stores in 29 states.

Through its grocery pickup program, Walmart shoppers will be able to place orders online in advance using the store’s website and choose a pickup time. Store employees will then deliver the orders to customers at designated parking spots. Customers must provide photo ID to verify that they are 21 in order to purchase alcoholic beverages.

Walmart also delivers alcohol from 200 locations in California and Florida and the company is looking to add more locations in accordance with local laws.

Truly Hard Seltzer Now Available on JetBlue Flights

JetBlue passengers will be able to purchase Boston Beer Company’s Truly Hard Seltzer Wild Berry on flights, making it the first hard seltzer available on flights year-round, according to the beer company.

Boston Beer chief marketing officer Lesya Lysyj said in a press release “Just like JetBlue, Truly is always looking for ways to innovate, push the status quo and deliver more of what drinkers and customers want, and we can’t think of a better partner for Truly’s first flight,”

Truly will be available year-round in 12 oz. cans on JetBlue flights. Other Boston Beer products that have been available on JetBlue’s menus include Angry Orchard Crisp Apple and Samuel Adams Boston Lager and OctoberFest.

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