Milton-Based Dogfish Head Brewery to Merge with Boston Beer Company
Dogfish Head Brewery and The Boston Beer Company have announced plans to merge, creating a new entity defined as an independent Craft brewery.
The announcement was made Thursday afternoon, billed as a cash and stock transaction valued at approximately 300 million dollars. Dogfish Head was founded by it’s current CEO Sam Calagione in 1995. With headquarters in Milton it has locations in Rehoboth and Lewes. It’s craft beers are distributed to locations in 40 states and Washington, D.C.
According to Boston Beer, the transaction is expected to close late in the second quarter of this year. The Calagione family is set to receive approximately 406,000 shares of Boston Beer stock, while Dogfish Head shareholders will receive 173,000,000 dollars in cash, which will benefit the company’s financial investors.
Dogfish is reportedly on pace to sell nearly 300 thousand barrels in the year 2019. Their sales are expected to reach between 110 and 120 million dollars in 2019. Dogfish Head employs around 400 employees, producing most of it’s beer in Milton.
There has been past collaboration between the two companies – in 2011 the two companies first collaborated on SAVOR Flowers, a one-time release brewed for attendees of the SAVOR Craft Beer and Food Tasting in Washington D.C.
Sam & Mariah Calagione posted a statement on their website talking about the merger and the future of Dogfish Head.