The world’s largest beer company, Anheuser-Busch (A-B), is about to get even bigger.
According to Brewbound, A-B announced on Monday that it will pay $16.50 per share for the remaining 68.8 percent of the Craft Brew Alliance (CBA) that it does not already own.
The deal, which is expected to close in 2020, comes three months after A-B passed up on the opportunity to acquire the entirety of the CBA. At the time, shares were offered for a minimum of $24.50. By declining the opportunity, A-B had to pay a one-time fee of $20 million to the CBA.
The merger adds Kona Brewing, Widmer Brothers Brewing, and Redhook Brewery, among other brands to A-B’s portfolio of 11 craft brands. Known as the Brewers Collective, the portfolio famously includes mega-brands Goose Island and Shock Top.
“Our partnership with CBA goes back many years and we look forward to supporting CBA as they continue to bring great products to beer drinkers across the U.S.,” Michel Doukeris, CEO of Anheuser-Busch, said in a press release.
Last year, according to the Brewers Association, the CBA’s production was down 1 percent from 2017, but the Kona Brand alone is showing strong numbers for 2019. Additional numbers from 2018 show that the combined production of A-B’s craft brands grew 1 percent.