Anheuser-Busch Inbev will buy the rest of Craft Brew Alliance that it does not own in a deal valuing the Portland-based brewing firm at about US$321 million, Reuters reports.
The deal is a reversal in stance by the world’s largest brewer, which owns 31.2 percent stake in Craft Brew and had said in August it would not buy out the company, the report noted.
Craft Brew’s portfolio of regional breweries and lifestyle brands is an addition to Anheuser-Busch and will help fuel the growth of craft beer category in the competitive beer industry in the United States, Anheuser-Busch said.
The deal is expected to close in 2020.
Shares of Craft Brew Alliance soared nearly 123 percent to US$16.32 after the bell, hovering near the offer price of US$16.50 in cash.
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