Anheuser-Busch Taking Over Goose Island

Chicago-based brewing company Goose Island will be taken over by Anheuser-Busch, the companies announced today. Goose Island beers are "the hometown pride of Chicagoans,” says Anheuser-Busch's president in a statement; in particular, the company is known for its 312 Urban Wheat Ale. Anheuser-Busch will buy a 58% stake in Goose Island for $22.5 million, plus it will acquire the Craft Brewers Alliance's 42% stake for $16.3 million, Chicago Breaking Business reports.

The move comes at a time when major brewers are experiencing flat sales, while craft beer sales are surging. “Demand for our beers has grown beyond our capacity to serve our wholesale partners, retailers, and beer lovers,” Goose Island's founder and president says in a statement; Anheuser-Busch will invest $1.3 million in the company to increase production capacity. If regulators approve the deal, it will likely close later this year. (More Anheuser-Busch stories.)