US: Magic Hat completes Pyramid Breweries takeover

By | 5 August 2008

Independent Brewers United, owner of Magic Hat Brewing Company, has completed the takeover of Pyramid Breweries.

Independent Brewers United (IBU) said yesterday (4 August) that it paid US$2.75 per share to complete its tender offer for all of the outstanding common shares in Pyramid.

The deal will see Pyramid, a producer of speciality beers in the US with breweries in Berkeley, California and Portland, Oregon, become a fully-owned IBU subsidiary.

The two breweries initially anounced they had agreed to merge in April. Pyramid said that intends to de-list from the Nasdaq stock exchange.

Sectors: Beer & cider

Companies: Pyramid Breweries

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US: Magic Hat completes Pyramid Breweries takeover

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