Official press releases from Suntory, financial news outlets like the Wall Street Journal

Suntory in Talks to Acquire Boston Beer, $SAM Stock Up 28%

May 31, 2024, 06:48 PM

Japanese whisky-maker Suntory is in early talks to acquire Boston Beer, the American brewer known for its Samuel Adams lager, according to sources cited by the Wall Street Journal. Boston Beer, trading under the ticker $SAM, saw its stock halted due to volatility amid the takeover discussions. The company has a market capitalization of around $3 billion. The potential acquisition has led to a 28% increase in Boston Beer's stock price. Suntory, which owns the Jim Beam brand and trades under $STBFY, is exploring this acquisition to expand its portfolio in the American beer market. The reported acquisition price is the same as in 2015, approximately 75% off the 2021 high.