PV Brewing Partners to Purchase CBA’s Kona
Brewing Co. Operations in Hawaii
As the two brewing companies work toward completing the
expansion of their successful 25-year relationship, Craft Brew
Alliance (“CBA”) (Nasdaq: BREW), and Anheuser-Busch (“A-B”) today
announced an update to their proposed expanded partnership first
announced last November in which A-B agreed to purchase the
remaining CBA shares it does not already own. To expedite the
regulatory review process and alleviate potential regulatory
concerns regarding the proposed expanded partnership, CBA and A-B
have agreed to the purchase of CBA’s Kona Brewing operations in
Hawaii by PV Brewing Partners (“PV Brewing”), a team of investors
with decades of combined beer industry and business growth
expertise. The arrangement with PV Brewing is contingent on the
closing of the proposed expanded partnership between CBA and A-B,
at which point PV Brewing will purchase CBA’s Kona Brewing
operations in Hawaii, including the new brewery and two brewpubs.
The arrangement does not include CBA’s Kona business outside of
Hawaii.
“We are committed to working with regulators and facilitating
the successful review and close of our expanded partnership with
A-B,” said Andy Thomas, CEO of CBA. “We are delighted to have found
a strong buyer that will continue to nurture the spirit of the Kona
brand in Hawaii and offer its employees, who will remain part of
Kona’s Hawaii operations, further opportunities for growth and
development.”
CBA and A-B continue to work collaboratively with regulators who
are reviewing the proposed expanded partnership.
“While our shared vision for the expanded partnership between
CBA and A-B did include CBA’s Hawaii operations, we are still
optimistic about the ability of CBA and A-B to offer more
consumers, in more communities, even more choices as a result of
this expanded partnership,” said Marcelo “Mika” Michaelis,
president, Brewers Collective, A-B. “We are confident that PV
Brewing will continue investing and driving economic growth in
Kona’s communities in Hawaii.”
In Hawaii, the opening of a new 30,000-square-foot Kona brewery
and canning operation this year is the next step for the vibrant
and local lifestyle brand.
“In the same way that CBA carried on the legacy of what Cameron
Healy and Spoon Khalsa built at Kona, our number one priority is
supporting Kona’s future on the Islands and ensuring the success of
the brand there,” said Dave Peacock, PV Brewing Investor. “We are
energized by this unique opportunity and are proud to support the
continued growth of Kona in Hawaii with a new state-of-the-art
brewery.”
CBA and A-B continue to expect the closing of the expanded
partnership to occur no later than the end of 2020, after receipt
of required regulatory clearance and satisfaction of other
customary conditions.
ABOUT CRAFT BREW ALLIANCE
CBA is a leading 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
innovation, partnerships, and local community.
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.
ABOUT PV BREWING PARTNERS
PV Brewing is a firm formed by David Peacock and VantEdge
Partners, an investment firm based in Kansas City led by Paul
Edgerley and Terry Matlack. VantEdge, among other investments, owns
260 quick-serve restaurants, including Dunkin’, Taco Bell and Jamba
and is part of the investment group that owns the Kansas City
Royals. Mr. Peacock, former President of Anheuser-Busch, has
partnered with VantEdge in other business ventures.
ABOUT ANHEUSER-BUSCH
For more than 165 years, Anheuser-Busch has carried on a legacy
of brewing great-tasting, high-quality beers that have satisfied
beer drinkers for generations. Today, we own and operate more than
100 facilities, including breweries, wholesaler distribution
centers, agricultural facilities and packaging plants, and have
more than 18,000 colleagues across the United States. We are home
to several of America’s most recognizable beer brands, including
Budweiser, Bud Light, Michelob ULTRA and Stella Artois, as well as
a number of regional brands that provide beer drinkers with a
choice of the best-tasting craft beers in the industry. From
responsible drinking programs and emergency drinking water
donations to industry-leading sustainability efforts, we are guided
by our unwavering commitment to supporting the communities we call
home. For more information, visit www.anheuser-busch.com or follow
Anheuser-Busch on LinkedIn, Twitter, Facebook and Instagram.
For more information, visit www.anheuser-busch.com or follow
Anheuser-Busch on LinkedIn, Twitter, Facebook and Instagram.
ABOUT BREWERS COLLECTIVE
Brewers Collective, a business unit of A-B, is on a mission to
energize how people view, consume and experience beer by sharing
our joy of brewing. We have an unwavering devotion to our beer,
brands, people and communities, and are on a continued pursuit of
making the next beer our best one yet. We believe that quality is
not an exception, innovation is a standard, and that everyone is
welcome within the world of beer. Brewers Collective encourages
everyone to drink responsibly, hydrate and get a safe ride home
when needed.
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version on businesswire.com: https://www.businesswire.com/news/home/20200610005909/en/
Jenny McLean, Craft Brew Alliance jenny.mclean@craftbrew.com
Laura Ballantyne, Brewers Collective, craft business unit of
Anheuser-Busch Laura.Ballantyne@brewerscollective.com
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