Boston Beer Company CEO Dave Burwick will step down and retire from the company’s board of directors, effective April 1. Michael Spillane, a Nike executive and lead director on Boston Beer’s board of directors, will supplant him.
During Boston Beer Company’s annual Great American Beer Festival breakfast, founder Jim Koch unveiled a new series of Samuel Adams ads and announced a new grant program that will give $1 million to early stage food and beverage companies. Koch said the new series of folksy ads, which highlight hop selection in Germany for Samuel Adams’ flagship Boston Lager, focus on “craftsmanship” and “artisanal values.” The ads end with the tagline: “Brewed inefficiently since 1984.”
In this week’s edition of Last Call: Boston Beer founder Jim Koch dines with President Trump; Buffalo Wild Wings considers sports betting; Interior Secretary Ryan Zinke’s ties to a Montana brewery project come under scrutiny; a federal appeals court rejects a challenge to the MegaBrew merger; and more news.
Boston Beer Company’s return to growth continued for a second consecutive quarter. The company — which makes the Samuel Adams, Angry Orchard, Twisted Tea, and Truly Spiked & Sparkling products — yesterday reported its second-quarter earnings results, which were highlighted by a 10.2 percent increase in net revenue to $273.1 million. For the 26-week period ending June 30, Boston Beer’s net revenue was up 13.2 percent, to $463.6 million.
