Anheuser-Busch to buy Chicago's Goose Island Beer Co.
"Chicago's Craft Beer" is the tagline gracing the top of the website of Goose Island Beer Co., but, with an announcement today involving St. Louis fixture Anheuser-Busch, that tagline of origin may become a little muddled.
Anheuser-Busch will acquire Goose Island in a move that "will provide [Goose Island] with the best resources available to continue along our path of growth and innovation," according to Goose Island CEO John Hall.
So, how much will Anheuser-Busch pay for the windy-city brewery? $38.8 million, according to the Chicago Tribune.
The Tribune also highlights that the "jarring" deal isn't a huge surprise:
"Though jarring in an industry that prides itself on independence and creativity, the move isn't completely unexpected. Anheuser-Busch has held a minority stake in the company since 2006, and been playing a role in distribution of the company's beer."
Beernews.org explains the various moving parts of the deal via updates (could be ongoing):
"Update 1: Chicago Breaking Business reports that Brewmaster, Greg Hall, is stepping down.
Update 2: According to a press release, a) John Hall will stay on as CEO, b) the two breweries will not be part of the deal and will remain open, and C) AB is going to put $1.3 million into the Fulton Street facility as early as this summer to help it expand.]
Update 3: Goose Island has added the announcement to its website.
Update 4: Kate Bernot, Contributing Editor at The Feast Chicago, says Deschutes Brewery's Head Brewer, Brett Porter, will take over Greg Hall's duties as Brewmaster.
Update 5: HOOK (Craft Brewers Alliance) stock is up over 6% in morning trading. The stock price was only $2.50/share just one year ago and is at $8.75 today.
Update 6: Per Beernet, "Just spoke with A-B ceo Dave Peacock: A-B will NOT brew Goose Island beers in St. Louis. Will expand capacity in Chicago and brew there.'"