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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Craft Brew Alliance Inc    BREW

CRAFT BREW ALLIANCE INC

(BREW)
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Craft Brew Alliance : Shares Fall as Anheuser Busch Passes on Bid

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08/23/2019 | 11:15am EDT

By Colin Kellaher

Shares of Craft Brew Alliance fell more than 15% on Friday after beer giant Anheuser-Busch InBev A.B. (BUD) declined to make an offer for the company.

Under an earlier partnership, Anheuser-Busch had until Friday to make an offer of at least $24.50 a share for the roughly 70% of the craft brewing collective it doesn't already own.

Anheuser-Busch, which holds a 31.3% stake in Craft Brew Alliance, on Friday said it would instead make a $20 million one-time incentive payment to the Portland, Ore., company.

Craft Brew Alliance said the payment bolsters its balance sheet and said it would provide an update on its business strategy and full-year financial outlook on Sept. 5.

Anheuser-Busch said its partnership with Craft Brew Alliance "continues to be a key complement to our industry-leading craft portfolio and we look forward to working together for many years to come."

Craft Brew Alliance shares were recently down 16.6% to $10.81.

Write to Colin Kellaher at colin.kellaher@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
ANHEUSER-BUSCH INBEV -1.00% 86.79 Delayed Quote.51.89%
CRAFT BREW ALLIANCE INC -3.36% 8.33 Delayed Quote.-41.79%
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Financials (USD)
Sales 2019 210 M
EBIT 2019 -1,55 M
Net income 2019 -4,70 M
Debt 2019 30,0 M
Yield 2019 -
P/E ratio 2019 -36,2x
P/E ratio 2020 26,4x
EV / Sales2019 0,92x
EV / Sales2020 0,83x
Capitalization 162 M
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Technical analysis trends CRAFT BREW ALLIANCE INC
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Mean consensus OUTPERFORM
Number of Analysts 4
Average target price 12,50  $
Last Close Price 8,33  $
Spread / Highest target 92,1%
Spread / Average Target 50,1%
Spread / Lowest Target 20,0%
EPS Revisions
Managers
NameTitle
Andrew J. Thomas Chief Executive Officer
David R. Lord Chairman
J. Scott Mennen Chief Operating Officer & Vice President
Kevin R. Kelly Independent Director
Timothy P. Boyle Independent Director
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