US: Boston Beer Co recoups recall costs
Boston Beer to recoup $20.5m of product recall costs
Boston Beer Co is set to receive US$20.5m in a legal settlement with its former glass bottle supplier over the brewer's costly product recall in 2008.
As part of the settlement, Boston Beer and its former supplier will drop all legal claims against each other in relation to the recall, the Boston-based brewer said yesterday (10 May). It did not name the supplier.
The deal will see the Samuel Adams brewer recoup some of the costs of the recall, which dented profits and amounted to almost $23m in its 2008 financial year.
In April 2008, Boston Beer announced that it would recall a run of 12oz bottles of Sam Adams produced at its Cincinnati brewery, because they might contain "small grains or bits of glass".
Sectors: Beer & cider
- Review of the Year 2014 - Part IV: Spirits
- Cuba-US Normalisation: Bacardi, Pernod Winners?
- Review of the Year 2014 - Part V: Wine
- just Five Years Ago - Belvedere Group's Bumpy Ride
- just the Ten - Editor's Viewpoints of 2014
- Belvédère to sell assets, streamline portfolio
- Campari to bag EUR19m with "non-core" assets sale
- Pernod agrees Caribe Cooler sale to Grupo Bepensa
- Pernod wins consent for Glenlivet upgrade
- Thailand pulls back from New Year alcohol ban