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U.S. approves Anheuser-Busch deal to buy Craft Brew Alliance

Credit: REUTERS/KIM HONG-JI

The U.S. Justice Department said on Friday it approved Anheuser-Bush's plan to buy the shares of Craft Brew Alliance that it does not already own.

By Diane Bartz

WASHINGTON, Sept 18 (Reuters) - The U.S. Justice Department said on Friday it approved Anheuser-Bush's ABI.BR plan to buy the shares of Craft Brew Alliance BREW.O that it does not already own.

The $220 million deal, which was announced in November, was approved on condition the companies sell Craft Brew Alliance's Kona brand beer.

The Portland-based CBA's other brands include Appalachian Mountain Brewery, Cisco Brewers, Redhook Brewery and Widmer Brothers Brewing.

Anheuser-Busch owned 31.2% of CBA before the deal was announced, and also distributed many of CBA's brands.

"CBA’s diverse portfolio of national lifestyle brands and award-winning regional breweries are an excellent complement to our family of craft partners," said Marcelo Michaelis, president of ABI's Brewers Collective business unit.

The companies said in a release that closing was expected "in the coming weeks."

(Reporting by Diane Bartz Editing by Chris Reese and Tom Brown)

((Diane.Bartz@thomsonreuters.com; 1 202 898 8313;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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