The Merger: Widmer and Redhook
The following story is from the Portland Business Journal. We would love to here your comments on this story from the beer lovers POV. Please click on comments at the end and give us your thoughts. We will be posting some comments from other home brewers later. Thank you.
Pdx Beer
Widmer and Redhook to merge
Portland Business Journal
Two giants of craft brewing -- Widmer Brothers Brewing Co. and Redhook Ale Brewery -- have agreed to merge. The two breweries said their company will be known as the Craft Brewers Alliance, but that Widmer and Redhook will remain separate brands.
Shareholders of Widmer and Redhook will hold 50 percent of the outstanding shares of the new company.
Red Hook, based in Woodinville, Wash., is publicly traded, and the new company will continue to trade on NASDAQ under the Redhook symbol (HOOK). It will have offices in Portland and Woodinville.
Portland-based Widmer Brothers' Chair Kurt Widmer, will serve as chair of the new company. Red Hook founder Paul Shipman will serve as chairman emeritus. Dave Mickelson, president of Redhook, will serve as co-CEO of the new company with Terry Michaelson, president of Craft Brands Alliance, Redhook and Widmer's sales and marketing joint venture.
Subject to shareholder and regulatory approval, the transaction is expected to close in the first quarter of 2008.
The brothers Kurt and Rob Widmer founded Widmer brewery in 1984. The company's flagship beer is its Widmer Hefeweizen. It is the nation's 11th-largest brewery.
Redhook had $35.7 million in sales in 2006. The company's most popular product is Redhook ESB.
Redhook shares fell less than 1 percent to close at $6.10. The deal was announced after markets closed.
Three years ago, another local craft brewing icon, Portland Brewing Co., was purchased by Seattle-based Pyramid Breweries Inc. for $4.2 million.
All contents of this site © American City Business Journals Inc. All rights reserved.
Cheers! Prost!
David K. Dronkowski C.M.C.
Publisher and Editor
Guest on Tap
Every Tuesday The Portland Tribune
www.guestontap.com
Pdx Beer
Widmer and Redhook to merge
Portland Business Journal
Two giants of craft brewing -- Widmer Brothers Brewing Co. and Redhook Ale Brewery -- have agreed to merge. The two breweries said their company will be known as the Craft Brewers Alliance, but that Widmer and Redhook will remain separate brands.
Shareholders of Widmer and Redhook will hold 50 percent of the outstanding shares of the new company.
Red Hook, based in Woodinville, Wash., is publicly traded, and the new company will continue to trade on NASDAQ under the Redhook symbol (HOOK). It will have offices in Portland and Woodinville.
Portland-based Widmer Brothers' Chair Kurt Widmer, will serve as chair of the new company. Red Hook founder Paul Shipman will serve as chairman emeritus. Dave Mickelson, president of Redhook, will serve as co-CEO of the new company with Terry Michaelson, president of Craft Brands Alliance, Redhook and Widmer's sales and marketing joint venture.
Subject to shareholder and regulatory approval, the transaction is expected to close in the first quarter of 2008.
The brothers Kurt and Rob Widmer founded Widmer brewery in 1984. The company's flagship beer is its Widmer Hefeweizen. It is the nation's 11th-largest brewery.
Redhook had $35.7 million in sales in 2006. The company's most popular product is Redhook ESB.
Redhook shares fell less than 1 percent to close at $6.10. The deal was announced after markets closed.
Three years ago, another local craft brewing icon, Portland Brewing Co., was purchased by Seattle-based Pyramid Breweries Inc. for $4.2 million.
All contents of this site © American City Business Journals Inc. All rights reserved.
Cheers! Prost!
David K. Dronkowski C.M.C.
Publisher and Editor
Guest on Tap
Every Tuesday The Portland Tribune
www.guestontap.com
posted by PDXBeer at 4:13 AM
1 Comments:
BJs is the TGIFinnegans of beer establishments and Red Hook makes garbage beer. Here's to the indie brewers who don't sell out and make suck product like Widmid and Pyramir.
Despite a loathing for BJs restaurants, that boy over in Janzen Beach makes sick brews! Don't quit, dood. Just beware of the corporates that are trying to steal our souls and palates.
Post a Comment
<< Home