Dogfish Head Brewery's mastermind is speaking out about the company's merger with Boston Beer Company, makers of Sam Adams beer.
On WDEL's Rick Jensen Show Thursday, Sam Calagione said the merger, announced last month, is about one thing other than craft beer: growth.
"If you love Dogfish Head, there's just going to be more to love in the future," he said. "We'll have more resources, and we're more committed to our co-workers, and our properties, and our businesses in Delaware--and growing them in Delaware and around the world--than we've ever been."
Calagione said the $300 million merger will grow the Dogfish brand through exponentially increased marketing and advertising capabilities. He added his 400 employees, who he called "co-workers," will have increased opportunities as well.
"They now have opportunities to grow in their roles and in their journey as leaders in our company to a degree that they never had," said Calagione.
The deal is expected to close in the second quarter.
"Mariah and I did not take one cent out of this deal. Basically in doing this deal, we just took all of our Dogfish Head stock and converted it into Boston Beer stock, so Mariah and I are as invested in the future of our brand as we've ever been, albeit with just way more resources than we've ever had," he said. "Jokingly, we could say we're stock rich and cash poor."
However, Calagione, noted they carved out $10 million to support Dogfish's Beer and Benevolence, to amplify philanthropic efforts on Delmarva.
"Now, we just have a lot more power to give back to the local communities that have sustained our brand and our co-workers' sustenance for the last 24 years," he said.