SAM Stock Recent News

Boston Beer has become the center of M&A activity starting with Suntory, which has denied the report, but another report says Cannabis producer Green Thumb has expressed interest. Bloomberg News' Tiffany Kary has the story.

Green Thumb Industries Inc. (CSE:GTII, OTCQX:GTBIF), a Chicago-headquartered cannabis company, is interested in a potential merger with brewer Boston Beer, according to a letter seen by media outlets. Per the letter from Green Thumb CEO Ben Kovler to Boston Beer founder Jim Koch on June 2, the combination would allow the Canadian-listed cannabis producer to also list on a major US stock exchange.

Green Thumb's CEO wrote in a letter that he would be able to make a superior offer for Boston Beer, the maker of Sam Adams lager, and that while young people are drinking less alcohol, the US cannabis market is ballooning.

Boston Beer stock surged on Friday on reports of a potential buyout bid, but are falling back after the rumored suitor dismissed the reports. Boston Beer is in the early stages of a transformation, and still could seek to sell itself.

Boston Beer Company Inc (NYSE:SAM) stock jumped 22.3% on Friday, after rumors that Japanese beverage company Suntory Holdings was in early negotiations to buy the company.

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Boston, May 31, 2024 (GLOBE NEWSWIRE) -- The Boston Beer Company, Inc. (NYSE: SAM) is aware of today's Wall Street Journal article on company sale speculation. We do not comment on rumors. We are fully focused on our business as an independent company and our return to growth.

The Japanese whiskey maker has expanded its portfolio in recent years, acquiring Jim Beam.

Japanese whisky-maker Suntory is in talks to acquire Boston Beer, the American brewer known for its Samuel Adams brand.

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