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A Boston Beer exec explained that 'millions of cases' of Truly will be destroyed because discounting is 'just not what we do'

Posted On: Dec 2, 2021   |   Posted By: Business Insider

Monica Schipper/Getty Images for NYCWFF
Boston Beer plans to throw out "millions of cases" of Truly rather than put it on sale.
The company's chairman told CNBC that it would rather toss out the Trulys than let them get stale.
The hard seltzer category as a whole has been waning throughout 2021.
The company that makes Truly plans to toss out "millions of cases" of its product amid waning demand for hard seltzer. Jim Koch, the chairman of Boston Beer Company - which produces Truly, along with Samuel Adams, Dogfish Head, and Twisted Tea - told CNBC on Friday that the company overestimated the popularity of hard seltzers. Boston Beer got "aggressive" about buying raw materials like flavors and cans and adding extra capacity to produce Truly, Koch said during an interview on "Closing Bell." "Frankly, we overbought," he said. "And when the growth stopped, we had more of all those things than we were going to be able to use, because there is a shelf life." Now, Boston Beer plans to throw away the excess cases...

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