Craft Brew Alliance Announces Close of Appalachian Mountain Brewery Acquisition
PORTLAND, Ore.--(BUSINESS WIRE)--Nov 29, 2018--Craft Brew Alliance, Inc. (“CBA”) (Nasdaq: BREW), a leading craft brewing company, announced today that it has completed its acquisition of Boone, North Carolina-based Appalachian Mountain Brewery (AMB). This transaction represents the final phase in CBA’s three partner acquisitions announced October 10, 2018 to unlock the full value of those brands and continue investing in their growth.
CBA and AMB have been working together since 2015, when AMB entered into a strategic partnership to leverage CBA’s brewing capacity, marketing resources, and distribution network to drive growth. With this final step, both companies will continue with ongoing integration efforts, which are facilitated by the strong existing relationship.
“Today marks an exciting day for our exceptional AMB team as they officially join the CBA family,” said Andy Thomas, CEO of CBA. “Since announcing our plans to bring AMB fully into the fold last month, our combined teams have been working closely together in anticipation of this transition.”
Under its purchase agreement with AMB, CBA has acquired the AMB brand, brewery, brewpub, and cidery and will continue to invest in the local community through ongoing support of the We Can So You Can Foundation and other nonprofits. Financial terms of the transaction were not disclosed.
About Craft Brew Alliance
Craft Brew Alliance (CBA) is a leading craft brewing company that brews, brands, and brings to market world-class American craft beers.
Our distinctive portfolio combines the power of Kona Brewing Company, a dynamic, growing national craft beer brand, with strong regional breweries and innovative lifestyle brands, Appalachian Mountain Brewery, Cisco Brewers, Omission Brewing Co., Redhook Brewery, Square Mile Cider Co., Widmer Brothers Brewing, and Wynwood Brewing Co. CBA nurtures the growth and development of its brands in today’s increasingly competitive beer market through our state-of-the-art brewing and distribution capability, integrated sales and marketing infrastructure, and strong focus on partnerships, local community and sustainability.
Formed in 2008, CBA is headquartered in Portland, Oregon and operates breweries and brewpubs across the U.S. CBA beers are available in all 50 U.S. states and 30 countries around the world. For more information about CBA and our brands, please visit www.craftbrew.com.
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CONTACT: Jenny McLean, Director of Corporate Communications
Craft Brew Alliance, Inc.
KEYWORD: UNITED STATES NORTH AMERICA NORTH CAROLINA OREGON
INDUSTRY KEYWORD: RETAIL FOOD/BEVERAGE WINE & SPIRITS
SOURCE: Craft Brew Alliance, Inc.
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PUB: 11/29/2018 01:30 PM/DISC: 11/29/2018 01:30 PM