Craft Brew Alliance Delivers 5% Domestic Depletions Growth for Kona in 2019, While Achieving Milestone in Long-Term Partnersh...
11 Março 2020 - 5:04PM
Business Wire
Full-year results underscore continued strong
growth and demand for Kona, while bringing certainty of value to
CBA shareholders with pending A-B agreement
Craft Brew Alliance, Inc. (“CBA”) (Nasdaq: BREW), a leading
craft brewing company, today reported financial results for the
full year and fourth quarter ended December 31, 2019 in a Form 10-K
filed with the Securities and Exchange Commission. Highlights for
the year include continued strong growth for portfolio cornerstone
Kona, which increased domestic depletions and shipments by 5% over
2018, combined with the proposed expansion of CBA’s long-term
partnership with Anheuser-Busch (“A-B”), as announced November 11,
2019, through which A-B agreed to purchase the remaining CBA shares
it does not already own in a merger transaction for $16.50 per
share, in cash.
“To say that 2019 was historic for CBA is an understatement,”
said Andy Thomas, Chief Executive Officer, Craft Brew Alliance. “We
grew Kona’s domestic depletions by a strong 5%, despite
unprecedented market conditions where increased competition from
hard seltzers further fragmented the consumer landscape. Within
that market, Kona Big Wave performed exceptionally well, delivering
double-digit growth in both the off-premise and on-premise
channels. Looking ahead, we are excited to expand the Kona
portfolio with two new offerings, Kona Light and Kona Island
Seltzers, both of which are poised to gain strong momentum as they
expand nationally in 2020.”
“The proposed agreement we reached with A-B in 2019 builds on
one of the most distinctive partnerships in our industry and will
drive significant value for our shareholders, who voted
overwhelmingly in support of the combination earlier this year,”
said Christine Perich, Chief Financial and Strategy Officer.
In light of the pending combination with A-B, CBA is suspending
the practice of holding earnings conference calls and providing
forward-looking guidance. As previously disclosed, the transaction,
which has been approved by shareholders, is expected to close in
2020, subject to the satisfaction of customary closing conditions,
including receipt of requisite regulatory approvals. For more
information on CBA’s fiscal 2019 results, please reference the Form
10-K filing available on the investor relations website at
https://investors.craftbrew.com/financial-information/sec-filings.
About Craft Brew
Alliance
CBA is an independent craft brewing company that brews, brands,
and brings to market world-class American craft beers. Our
distinctive portfolio combines the power of Kona Brewing Company, a
dynamic, fast-growing national craft beer brand, with strong
regional breweries and innovative lifestyle brands Appalachian
Mountain Brewery, Cisco Brewers, Omission Brewing Co., Redhook
Brewery, Square Mile Cider Co., Widmer Brothers Brewing, and
Wynwood Brewing Co. CBA nurtures the growth and development of its
brands in today’s increasingly competitive beer market through our
state-of-the-art brewing and distribution capability, integrated
sales and marketing infrastructure, and strong focus on
partnerships, local community and sustainability.
Formed in 2008, CBA is headquartered in Portland, Oregon and
operates breweries and brewpubs across the U.S. CBA beers are
available in all 50 U.S. states and 30 different countries around
the world. For more information about CBA and our brands, please
visit www.craftbrew.com.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20200311005654/en/
Media and Investor Contact:
Jenny McLean, Senior Communications Director,
jenny.mclean@craftbrew.com
Craft Brew Alliance (NASDAQ:BREW)
Gráfico Histórico do Ativo
De Abr 2024 até Mai 2024
Craft Brew Alliance (NASDAQ:BREW)
Gráfico Histórico do Ativo
De Mai 2023 até Mai 2024