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Wednesday, April 22, 2009

Widhook in the WSJ

In the silver lining department, here's some good news resulting from the Craft Brewers Alliance stock drop (via the Wall Street Journal, emailed to me):
With company shares recovering from post-merger lows, insiders at Craft Brewers Alliance Inc., the makers of the Widmer Brothers and Redhook Ale brands, have been buying the beer company's stock....

Mr. Michaelson said recent weeks have provided the first good opportunity for insiders to buy since Redhook Ale Brewery Inc. and Widmer Brothers Brewing Co. announced the completion of their merger last July.

Like many companies, Portland-based Craft Brewers restricts the timing of insider transactions.... With integration issues resolved, insiders were ready to buy, he said. Altogether, Mr. Michaelson and three other company insiders paid about $92,000 for 67,500 shares. Craft Brewers shares, under the trading symbol HOOK, traded Tuesday at $2.12, up 11 cents.

Evidence that the owners are pretty confident of their future. (Hat tip to Joe L for the copy.)

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