May 9, 2019

Boston Beer Co. and Dogfish Head sign $300 million merger

Photo: Lisa J Goodman/Getty Images

Boston Beer Company and Dogfish Head have signed a merger agreement as of Thursday, in a deal valued at $300 million.

Why it matters: This consolidation brings together the Brewers Association’s second-largest craft brewer, Boston Beer, with the 13th-biggest craft brewery. The companies explained that this will position them to "compete against the global beer conglomerates within the craft beer category." Indeed, both companies will maintain their independent craft brewery status.

Details: Delaware-based Dogfish Head co-founders Sam and Mariah Calagione elected to take most of their merger consideration in the form of stocks — 406,000 shares in total — making them the second-largest shareholders behind Boston Beer founder Jim Koch. The merger — expected to close in the second quarter of the year — comes roughly 4 years after Dogfish Head sold a 15% stake to New York-based private equity firm, LNK Partners.

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Updates: George Floyd protests enter 12th day

Protesters in Washington, D.C. on June 6. Photo: Samuel Corum/Getty Images

Tens of thousands of demonstrators are rallying in cities across the U.S. and around the world to protest the killing of George Floyd. Huge crowds have assembled in Washington, D.C., Philadelphia and Chicago for full-day events.

Why it matters: Twelve days of nationwide protest in the U.S. has built pressure for states to make new changes on what kind of force law enforcement can use on civilians and prompted officials to review police conduct.

Updated 2 hours ago - World

In photos: People around the world rally against racism

Despite a ban on large gatherings implemented in response to the coronavirus pandemic, protesters rally against racism in front of the American Embassy in Paris on June 6. Photo: Julien Mattia/Anadolu Agency via Getty Images

Tens of thousands of people have continued to rally in cities across the world against racism and show their support this week for U.S. demonstrators protesting the death in police custody of George Floyd.

Why it matters: The tense situation in the U.S. has brought the discussion of racism and discrimination onto the global stage at a time when most of the world is consumed by the novel coronavirus.

Updated 3 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 7:30 p.m. ET: 6,852,810 — Total deaths: 398,211 — Total recoveries — 3,071,142Map.
  2. U.S.: Total confirmed cases as of 7:30 p.m. ET: 1,917,080 — Total deaths: 109,702 — Total recoveries: 500,849 — Total tested: 19,778,873Map.
  3. Public health: Why the pandemic is hitting minorities harder — Coronavirus curve rises in FloridaHow racism threatens the response to the pandemic Some people are drinking and inhaling cleaning products in attempt to fight the virus.
  4. Tech: The pandemic is accelerating next-generation disease diagnostics — Robotics looks to copy software-as-a-service model.
  5. Business: Budgets busted by coronavirus make it harder for cities to address inequality Sports, film production in California to resume June 12 after 3-month hiatus.
  6. Education: Students and teachers flunked remote learning.