Investing.com -- Boston Beer surged Friday as the American brewer is in talks to sell the company to global spirits company Suntory, the Wall Street reported Friday, citing unnamed sources. Boston Beer Company Inc (NYSE: ) was up more than 30% on the news. Speculation about a sale comes as Boston Beer has suffered a rough year so far as changing consumer tastes have dented demand. Suntory knows Boston Beer well after teaming up with the latter in 2021 to produce new spirits and ready-to-drink beverages. Boston Beer declined to comment on the report, saying it "doesn't comment on rumors."

Source: Wall Street Journal June 01, 2024 07:10 UTC