Drink-a-Pint

Over the past few months, I’ve become a big fan of Magic Hat and their 12-pack samplers that always seem to hit the spot. Apparently I’m not the only one, as the brewer is doing well enough to gobble up a premier West Coast microbrewery - Pyramid Breweries Inc.

Magic Hat Brewing will acquire Pyramid through an all-cash tender offer and subsequent merger, at $2.75 per share of Pyramid common stock. The closing of the proposed transaction is anticipated to occur by the end of August.

From what both companies are saying, it sounds like it’ll be business as usual as far as beer drinkers are concerned, with no immediate changes to either brewer’s lineups planned.

“The combination of these two well established, high profile craft breweries will be very complementary given our respective brand portfolios and the geographies in which we predominantly operate. Additionally, there will be a number of important benefits for Pyramid to be part of a private company versus continuing to operate as a stand alone public entity. This consolidation makes both good strategic and financial sense and is well timed, particularly as the beer industry’s competitive dynamics continue to intensify,” said Pyramid CEO Scott Barnum. “The Company will continue to have offices in Seattle, its historical home, and will seek opportunities to capitalize on the enhanced assets and capabilities of the new combined entity,” he added.

Martin Kelly, CEO of Magic Hat said, “We have a great deal of respect for Pyramid’s brand heritage, award-winning beers and its dedicated employees, and look forward to consummating this transaction, which provides both strategic and financial benefits both to Pyramid’s and Magic Hat’s stakeholders.”

Hopefully, this means us East Coasters will finally have a chance to pick up Pyramid at local liquor stores if Magic Hat expands their distribution.