- Boston Beer Company Inc (NYSE:SAM) and Beam Suntory Inc have entered a long-term, strategic partnership to extend select brands into some of the fastest-growing beverage alcohol segments.
- The companies plan to launch products that bring the Sauza tequila brand further into ready-to-drink beverages (RTDs) and Truly Hard Seltzer into bottled spirits through the partnership.
- Boston Beer and Beam Suntory expect the availability of first new products from this partnership for consumer retail channels in the U.S. by mid-2022.
- “Our industry is rapidly evolving, and consumers are looking for new and exciting options that suit a wide variety of occasions, and we couldn’t be happier to have found the perfect partner to extend our brands into the spirits category,” said Boston Beer CEO Dave Burwick.
- Price action: SAM shares are trading higher by 0.81% at $927.03 on the last check Thursday.
Morgan Stanley Maintains Underweight on Saia, Raises Price Target to $200
Morgan Stanley analyst Ravi Shanker maintains Saia (NASDAQ:SAIA) with a Underweight and raises the price target from $153 to $200.
