Shipments up 5%
Craft Brewers Alliance, Inc. reported net sales for the second quarter of 2010 of $37.2 million, reflecting growth of four percent as compared to the second quarter of 2009. Operating income grew 14 percent to $2.9 million as compared to $2.5 million in the second quarter of 2009.
The company also saw total shipments increase by five percent to 170,900 barrels
“We are delighted that we continued to generate strong sales, earnings and cash flow improvements over last year. We remain committed to our strategy of targeting our most profitable markets with exceptional brands and in-market execution,” said Terry Michaelson, CBA’s CEO. “We believe that our portfolio of brands uniquely positions us in the craft beer segment. We will continue to increase our sales and marketing investment toward further enhancing our brands, which we believe will drive profitable market share growth.”
CBA just announced earlier this month that it entered into a merger agreement with Kona Brewing Co. after a nine-year partnership. As a result of the merger agreement, Kona will become a wholly owned subsidiary of CBA and have the opportunity to expand its brand and distribution.
Craft Brewers Alliance, which is 35% owned by Anheuse-Busch operates the Widmer Brothers brewery in Portland, Ore., and Redhook breweries in Woodinville, Wash., and Portsmouth, N.H. The company distributes those brands and those of Kona and Goose Island throughout the U.S. via a network of mostly A-B distributors.