By Josh Noel and Emily York
Goose Island Beer Co., the Chicago-based brewing powerhouse, announced this morning that it will be taken over by Anheuser-Busch (A-B) for $38.8 million.
Goose Island, whose legal name is Fulton Street Brewery LLC, is selling a 58 percent stake in the company to A-B for $22.5 million. The Craft Brewers Alliance, in which A-B holds a 32 percent stake, has agreed to sell its own Goose Island stake to A-B for $16.3 million. The Craft Brewers Alliance owns the remaining 42 percent of Goose Island.
St. Louis-based Anheuser-Busch is a wholly-owned subsidiary of Anheuser-Busch InBev N.V. (AB InBev), the world’s largest brewing company based in Leuven, Belgium. AB InBev was formed when InBev NV bought Anheuser-Busch Cos. in 2008.
As part of the deal, A-B will also invest $1.3 million in the Fulton Street brewery to increase production capacity. Goose Island sold approximately 127,000 barrels of beer in 2010.
Brewmaster Greg Hall will be stepping down. Founder and president John Hall will stay on as CEO.
“Demand for our beers has grown beyond our capacity to serve our wholesale partners, retailers, and beer lovers,” Hall said in a statement. “This agreement helps us achieve our goals with an ideal partner who helped fuel our growth, appreciates our products and supports their success.”
He added that the “new structure will preserve the qualities that make Goose Island’s beers unique, strictly maintain our recipes and brewing processes.”
If approved by regulators, the deal is expected to close in the second quarter of 2011.
For the rest of the article, please visit Chicago Breaking Business.
