Boston Beer (SAM) – Facing Annihilation?

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“Let’s take the criticism, that the scale brewers have been slow to innovate and to bring exciting, fresh and new brews. That’s probably correct. The reality, though, is we’ve recognized that and we’re moving very quickly.”

– Alan Clark, CEO of SABMiller, the world’s second largest brewer (source)

When I think about the competitive forces moving against SAM, I can’t help but consider the parallels to the samurai just before the Battle of Shiroyama (here).

Far outnumbered in size and might, SAM’s business today appears just as vulnerable as Saigō’s head in 1877.

I’ve spent many hours racking my brain and the only conclusion I can come to is this one: this will not end well for SAM shareholders.

But like all humans, I am fallible. So I am writing to seek out different opinions on SAM. Please tell me where I’m wrong (previous notes here).


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