Dogfish Head Brewery announced Thursday that it has reached a merger agreement valued at $300 million with Boston Beer Co., brewer of Sam Adams beer, Twisted Tea, Angry Orchard ciders and Truly Spiked & Sparkling.
Boston Beer Company wrote in a news release that it has signed a definitive merger agreement with the Milton, Del.-based Dogfish Head, marking a significant market shift in the craft brewing industry.
“The combined company will maintain its status as an independent Craft brewery, as defined by the Brewers Association,” the company wrote.
“It will be better positioned to compete against the global beer conglomerates within the craft beer category that are 50- and 100-times its size, while still representing less than 2% of beer sold in the United States.”
Boston Beer is the nation’s second-largest craft brewer, according to craftbeer.com’s 2018 rankings. Dogfish is 13th.