ST. LOUIS - The Bud Knight has conquered yet another kingdom!
According to a Monday announcement, Anheuser-Busch acquired The Craft Brew Alliance which includes Widmer Brothers and Redhook Brewing companies for less than it could have just a few months ago. The biggest surprise was the price at which they bought the company at; a mere $16.50 per share.
In 2016 Busch struck a deal with the craft brew alliance to buy the company for an increased price at $22 dollars a share that year. Then $23.50 in year two and $24.50 in year three, but that deal failed to happen. Last summer when White Claw rose to popularity the beer markets were affected, and shares of craft brew plummeted to less than $8 dollars.
Craft brew alliance includes several big-name beers like Kona, Omission, Square Mile Cider and many more.