Benzinga | Jul 15, 2021 01:59PM EDT

Boston Beer Partners With Beam Suntory To Extend Brands

* 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.