Widhook Acquires Kona Brewing

Wow.

Portland, Ore. (August 3, 2010) – Craft Brewers Alliance, Inc. (CBA) (Nasdaq: HOOK), has entered into a merger agreement that will strengthen a nine-year partnership with Kona Brewing Co. (Kona).  As a result of the merger agreement, Kona will become a wholly owned subsidiary of CBA and have the opportunity to expand its brand and distribution while maintaining its craft brewery operations in Hawaii....

Following the merger, Davis will continue to serve as president and CEO of Kona and will work closely with Michaelson to nurture the authenticity of the Kona brand and position it for long-term growth on the U.S. mainland. In addition, the current owners of Kona will receive an equity stake in the combined entity.
 
Rich Tucciarione will remain Brewmaster at Kona and the brewery’s operations will remain in Kailua-Kona on Hawaii’s Big Island, where the company takes an active role in supporting community events like the annual Kona Brewers Festival. Kona also takes proactive steps to minimize its impact on the natural resources of the island community, adopting programs that focus on solar energy, waste minimization, resource conservation, and support of local farmers and agriculture.

I do love me that Kona Porter...