Jun 3, 2024 - Business
Samuel Adams brewer reportedly on the block, as U.S. beer sales fall
Add Axios as your preferred source to
see more of our stories on Google.
Boston Beer Co., the maker of Samuel Adams, is in early talks to be acquired by Japanese whiskey maker Suntory, according to the WSJ.
The big picture: U.S. beer sales are down, in part due to hard seltzer's rise, which is putting pressure on brewers to consolidate.
- The news sent Boston Beer shares up 22% on Friday, giving it a $3.75 billion market cap, following what had been more than a 30% decline since February.
- Also on Friday, Chobani founder and CEO Hamdi Ulukaya bought shuttered SF brewer Anchor Steam.
By the numbers: U.S. beer production and imports fell 5.1% last year, per the Brewers Association.
- The overall market was valued at nearly $117 billion, of which 13.3% were craft brewers and 23.2% were imports.
