US-based Craft Brew Alliance (CBA) and Anheuser-Busch (A-B) agreed with the United States Department of Justice (USDOJ) to close the proposed expanded partnership between the companies.

The companies announced that they entered an agreement with the USDOJ after obtaining approval from CBA shareholder to sell its Kona Brewing operations in Hawaii to PV Brewing Partners.

Established in 2008, CBA operates breweries and brewpubs across the US.

CBA CEO Andy Thomas said: “This latest milestone brings us one step closer to officially joining the Brewers Collective family.

“We look forward to combining our resources, talented teammates, and dynamic brands as we continue nurturing the growth of CBA’s existing portfolio and investing in innovation to meet the changing needs of today’s beverage consumers, all while delivering certainty of value to our shareholders.”

With the approval from USDOJ, more than a two-decade partnership between the two brewing companies nears closure.

Under the deal, CBA shareholders will receive $16.50 in cash per share of Craft Brew Alliance common stock.

Completion of the deal should take place in the coming weeks.

Anheuser-Busch Brewers Collective president Marcelo Michaelis said: “The beer industry in the US is competitive and dynamic, with more choices available to consumers than ever before.

“CBA’s diverse portfolio of national lifestyle brands and award-winning regional breweries are an excellent complement to our family of craft partners and would continue to help fuel the growth of the craft beer category.”

Brewers Collective is a business unit of A-B and focuses on energising how people view, consume, as well as experience beer.