Boston Beer Co. (SAM) Acquires Coney Island Brand

August 26, 2013 4:56 PM EDT
On August 26, 2013, A&S Brewing Collaborative LLC, d/b/a Alchemy & Science (“A&S”), a wholly-owned subsidiary of the Boston Beer Co. Inc. (NYSE: SAM) acquired all rights to the Coney Island brand from Shmaltz Brewing Company, LLC (formerly known as Coney Island Brewing Company, LLC) (“Shmaltz”), as well as some brewery equipment and other assets related to the Coney Island brand.

In connection with the acquisition, A&S has entered into a two-year brewing services agreement with Shmaltz pursuant to which Shmaltz will produce some of the beer to be sold under the Coney Island brand name once certain conditions are met. Immediately following the closing, Shmaltz will brew and sell Coney Island branded beer in certain markets under license from A&S until A&S obtains its required permits. In addition, A&S has entered into an agreement with Shmaltz’s founder Jeremy Cowan, pursuant to which Mr. Cowan will advise A&S, as requested, on Coney Island matters, for a period of two years.

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