Boston Beer Co. to expand brewing |
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Published
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Tue, 03 Apr 2007 18:01
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BOSTON (AP) - Boston Beer Co., which makes Samuel Adams beers, said Tuesday it signed an agreement with a subsidiary of brewer City Brewing Co. to brew beer at a brewhouse in Latrobe, Pa.The two companies said they will upgrade the brewhouse, which will begin making Samuel Adams beer during the second quarter.Boston Beer said the agreement gives the company more flexibility and allows them to add to their brewing capacity. The company said it also provides some security in its supply.Boston Beer said they will invest between $3 million and $7 million. The company said it is also discussing with City Brewing the potential of having an ownership interest in the brewing facility.Boston Beer Co. shares rose 68 cents to $33.76 in midday trading on the New York Stock Exchange.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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Boston Beer 4Q profit jumps 9 percent 