Sam Adams beer buys Dogfish Head for $300m in cash and stocks
Combined company will be led by Boston Beer chief executive and maintain a significant presence in Delaware
Hip craft beer company Dogfish Head is being acquired by the Boston-based brewer of Sam Adams beer in a $300m cash and stock deal.
The Boston Beer Company announced Thursday that it had entered into definitive agreements to acquire all of the equity interests in Dogfish Head Holding Co.
Dogfish Head founder Sam Calagione and his family will receive about 406,000 shares of Boston Beer stock valued at about $128m, based on a share price of $314.60. Shareholders in Dogfish Head Brewery, based in Delaware, also will receive $173m in cash, and Calagione will join the board of Boston Beer.
Officials say the combined company will be led by Boston Beer chief executive Dave Burwick and maintain a significant presence in Delaware.