U.S. markets closed
  • S&P Futures

    3,396.75
    +3.25 (+0.10%)
     
  • Dow Futures

    27,600.00
    +19.00 (+0.07%)
     
  • Nasdaq Futures

    11,504.75
    +12.50 (+0.11%)
     
  • Russell 2000 Futures

    1,603.00
    +0.90 (+0.06%)
     
  • Crude Oil

    38.66
    +0.10 (+0.26%)
     
  • Gold

    1,906.10
    +0.40 (+0.02%)
     
  • Silver

    24.42
    -0.00 (-0.02%)
     
  • EUR/USD

    1.1818
    +0.0004 (+0.04%)
     
  • 10-Yr Bond

    0.8010
    -0.0400 (-4.76%)
     
  • Vix

    32.46
    +4.91 (+17.82%)
     
  • GBP/USD

    1.3022
    +0.0001 (+0.01%)
     
  • USD/JPY

    104.8000
    -0.0350 (-0.03%)
     
  • BTC-USD

    13,096.02
    +35.18 (+0.27%)
     
  • CMC Crypto 200

    261.20
    -2.22 (-0.84%)
     
  • FTSE 100

    5,792.01
    -68.27 (-1.16%)
     
  • Nikkei 225

    23,325.03
    -169.31 (-0.72%)
     

U.S. approves Anheuser-Busch deal to buy Craft Brew Alliance

Diane Bartz
·1 min read
FILE PHOTO: The logo of AB InBev is pictured inside the brewer's headquarters in Leuven
FILE PHOTO: The logo of AB InBev is pictured inside the brewer's headquarters in Leuven

By Diane Bartz

WASHINGTON (Reuters) - The U.S. Justice Department said on Friday it approved Anheuser-Busch's <ABI.BR> plan to buy the shares of Craft Brew Alliance <BREW.O> that it does not already own.

The $220 million deal, which was announced in November, was approved on condition the companies sell Craft Brew Alliance's Kona brand beer.

The Portland-based CBA's other brands include Appalachian Mountain Brewery, Cisco Brewers, Redhook Brewery and Widmer Brothers Brewing.

Anheuser-Busch owned 31.2% of CBA before the deal was announced, and also distributed many of CBA's brands.

"CBA’s diverse portfolio of national lifestyle brands and award-winning regional breweries are an excellent complement to our family of craft partners," said Marcelo Michaelis, president of ABI's Brewers Collective business unit.

The companies said in a release that closing was expected "in the coming weeks."

(Reporting by Diane Bartz; Editing by Chris Reese and Tom Brown)