dogfish head

Delaware-based craft beer company Dogfish Head Brewery is being acquired by the Boston-based brewer of Sam Adams beer in a $300 million cash and stock deal.

MILTON, Del. — Delaware-based craft beer company Dogfish Head Brewery is being acquired by the Boston-based brewer of Sam Adams beer in a $300 million cash and stock deal.

The Boston Beer Company announced Thursday it entered into definitive agreements to acquire all of the equity interests in Dogfish Head Holding Co.

Dogfish Head founder Sam Calagione and his family will receive about 406,000 shares of Boston Beer stock valued at about $128 million, based on a share price of $314.60. Dogfish Head shareholders also will receive $173 million in cash, and Calagione will join the board of Boston Beer.

Officials said the combined company will be led by Boston Beer CEO Dave Burwick and maintain a significant presence in Delaware.

— Associated Press

Copyright 2019 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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