Molting occurs about once a year in an adult lobster and is a vulnerable time in which the lobster retreats to a hiding spot and withdraws out of its shell. After molting the lobster's body is very soft and it can take a few months for its shell to harden again.
Madison Capital Funding closed a senior debt facility to finance the Dividend Recapitalization of Goosehead Insurance. Madison Capital Funding is the Sole Lender and Administrative Agent. Further terms were not disclosed. Goosehead Insurance is one of the largest and fastest growing personal lines insurance agencies in the country. Founded in 2001, Madison Capital Funding is a market leader in supporting middle market private equity sponsors with cash-flow based corporate finance products.
The sale to Anheuser-Busch wasn't all that surprising. Goose Island has had ties to Anheuser-Busch since 2006, when it sold a stake in the company to the Craft Brewers Alliance, which includes Redhook, Widmer and Kona. Anheuser-Busch owns 32 percent of the Craft Brewers Alliance. The Goose Island deal involves two steps. Anheuser-Busch said it will acquire Craft Brewer's 42 percent stake in Goose Island for $16.3 million, and the remaining 58 percent of the company for $22.5 million.