HONOLULU (AP) -- Kona Brewing Co. has announced it is being bought by Craft Brewers Alliance Inc. for just under $14 million.
Craft said Tuesday that it is paying $6 million in cash and $7.9 million in stock for Big Island-based Kona Brewing.
According to the companies, the deal will strengthen a nine-year partnership and allow Kona to expand its distribution operations.
Mattson Davis will remain president and chief executive officer of the new Kona subsidiary. Rich Tucciarione will stay on as brewmaster at the brewery's operations in Kailua-Kona.
Craft Brewers Alliance is a beer brewing company with headquarters in Portland, Ore.