New Ticker Reflects CBA's Evolution and Passion
PORTLAND, Ore., Mar 15, 2012 (BUSINESS WIRE) --Craft Brew Alliance, "CBA" (Nasdaq: BREW), an independent craft brewing company comprised of Widmer Brothers Brewing, Redhook Brewery and Kona Brewing Co., has changed its brewery ticker symbol from 'HOOK' to 'BREW.' The new ticker helps convey the blended colorful histories, different cultures, and shared knowledge of CBA's three craft breweries -- Redhook, Widmer Brothers, and Kona - together as one team, and emphasizes the shared passion of the entire CBA team: brewing great craft beer. This change culminates the company's rebranding efforts, which started in January and included a name change from Craft Brewers Alliance to Craft Brew Alliance and a new logo featuring an elevated 'A' to indicate the power of the alliance between the three craft beer brands. The 'BREW' ticker will be effective at the opening of the trading day on Thursday, March 22.
"After more than 15 years as a public company, we have decided to change our ticker symbol to 'BREW" to reflect CBA's unique position as a national brewery made up of three distinct beer brands," said Terry Michaelson, chief executive officer at CBA. "We've refined our three consumer-facing brands in recent years to ensure that each is positioned to offer unique and authentic craft beer experiences, and want to ensure that the alliance's identity conveys who we are as a group to our employees, customers, and investors."
"Earlier this year, CBA unveiled a new identity to unite our three distinct brands within one family," commented Andy Thomas, president of commercial operations. "Changing the ticker symbol to 'BREW' was the final logical step to completing our company rebranding and conveying the transition to our investors. Our team is excited about the future, and our continued dedication allows CBA to offer a great portfolio of craft beer brands that allow us to satisfy more consumers, at more times, in more locations, through more authentic, distinct craft beers and brands than any other competitor."
The previous ticker symbol 'HOOK' was established in 1995 when Redhook Brewery completed an initial public offering. CBA was formed in 2008 through the merger of Redhook Brewery and Widmer Brothers Brewing and inherited the symbol. CBA was joined by Kona Brewing Company in 2010.
About Craft Brew Alliance - CBA is an independent, publicly traded craft brewing company that was formed with the merger of leading Pacific Northwest craft brewers - Widmer Brothers Brewing and Redhook Brewery - in 2008. With an eye toward preserving and growing one-of-a-kind craft beers and brands, CBA was joined by Kona Brewing Company in 2010.
When Kurt & Rob Widmer founded Widmer Brothers Brewing in 1984, they didn't confine their brewing exploration to strict style guidelines. To this day, Widmer Brothers continues to create craft beers with a unique and unconventional twist on traditional styles that are award winning and please a wide range of craft beer lovers.
Redhook began in a Seattle transmission shop in 1981, and those colorful roots are reflected in the brand's personality to this day. As one of the country's first craft breweries, Redhook continues to offer sessionable craft beers to consumers across the country.
Kona Brewing was founded in 1994 by the father and son team of Cameron Healy and Spoon Khalsa, who dreamed of crafting fresh, local island brews with spirit, passion and quality. As the largest craft brewery in Hawaii, Kona personifies the laid-back, passionate lifestyle and environmental respect of the Hawaiian people and culture.
SOURCE: Craft Brew Alliance
Ted Lane, 212-302-5948
Craft Brew Alliance, Inc.
Edwin Smith, 503-972-7884