Breaking: Widmer and Redhook to Merge

Wow, blockbuster news today: Widmer and Redhook are merging, though it doesn't look like it will change much on the ground:

Redhook Ale Brewery of Woodinville has agreed to pay about $50 million in stock for Widmer Brothers Brewing in Portland. The new company, called Craft Brewers Alliance, will have management offices in both cities, the companies said in a joint press release this afternoon.

Both companies will keep their existing breweries, including Widmer's breweries in Portland and Redhook's in Woodinville and Portsmouth, N.H. They also plan to continue making their existing beers, including Redhook's ESB and Widmer's Hefeweizen....

Kurt Widmer, who co-founded the Portland brewery with his brother Rob in 1984, will become the new company's chairman. Daily operations will be run by two chief executives: Dave Mickelson, who is currently Redhook's president and chief operating officer; and Terry Michaelson, president of Portland-based Craft Brands Alliance, a sales and marketing partnership between Redhook and Widmer Brothers that will dissolve when they become a single company.

More later, including analysis and implications for Northwest brewing and the effect this may have on other breweries.