Two of the largest breweries in the world will now be under one company.

The Boston Beer Co. has agreed to merge with Dogfish Head Craft Brewery in a deal valued at approximately $300 million. According to a press release, Sam Calagione and his family will receive 406,000 shares of Boston Beer, while the shareholders will get $173 million in cash “most all of which is for the benefit of Dogfish Head’s financial investors, with the exception of certain transaction-related expenses.”

“We believe we are creating the most dynamic and diverse American-owned platform for craft beer and beyond,” said Jim Koch, founder and chairman of The Boston Beer Co., in a press release. “Dogfish Head has a proud history as a craft beer pioneer with a brand that is beloved by American consumers and highly respected by the industry. Sam and I have stood shoulder to shoulder in some of the defining efforts in Craft brewing including the creation of the Brewers Association, the craft beer definition, the craft brewer seal and the creation of the SAVOR food and beer event.”

According to the press release, Sam Calagione is expected to join Boston Beer’s Board of Directors beginning in 2020 and the combined company will be led by Boston Beer’s current ceo, Dave Burwick. The transaction is expected to close late in the second quarter of 2019.