Dogfish Head is merging with the makers of Sam Adams.
The merger between Delaware's beloved craft brewery and The Boston Beer Company was announced Thursday, May 9, 2019, when owners of both companies said it will create a "powerful American-owned platform for craft beer and beyond."
As part of the $300 million deal, Dogfish founder Sam Calagione said Dogfish plans to maintain its name and will remain a craft brewery.
"This merger better positions Dogfish Head and our co-workers to continue growing within this definition for many years to come. In fact, Mariah and I believe so much in the future of our merged companies that we are all in, and personally we're reinvesting nearly all of the proceeds back into the combined entity. We're also proud to announce that we intend to devote a percentage of the Boston Beer stock that we receive to establishing a foundation and funding various local charitable programs," said Calagione in a written statement.
In a statement, Jim Koch, founder and chairman of The Boston Beer Company said he and Sam have stood shoulder-to-shoulder and share a passion for brewing and innovation.
We believe we are creating the most dynamic and diverse American-owned platform for craft beer and beyond," said Jim Koch, founder and Chairman of The Boston Beer Company. "Dogfish Head has a proud history as a craft beer pioneer with a brand that is beloved by American consumers and highly respected by the industry," said Koch.
The combined company will be led by Boston Beer CEO Dave Burwick, according to a press release. Calagione will join Boston Beer's Board of Directors beginning in 2020.
The merger is expected to close in the second quarter of 2019.
Calagione hasn't returned a request for comment.