Boston Beer Co. (SAM) is breaking my heart these days. The company is increasingly under pressure to grow, while the very market it created is preventing it from doing so. The vast plethora of craft beer choices in recent years has caused stagnation in Boston Beer Company's sales. To add fuel to my fire, there's been a lot of chatter recently about Boston Beer being acquired to solve its problems. For Jim Koch to avoid the end of his company's sovereignty, he must look into acquisitions of his own, or spur renewed passion for the father of American craft beer.

All of this has resulted in an undesirable 3-year stock performance. Without acquisitions, I don't see how the company will be able to right the ship. Net revenue declined 3% to $247 million in the third quarter. The company noted the main cause being a 4% decline in shipments. Indeed, Boston Beer sold a total of 1,084 barrels vs. 1,131 the year before. It is becoming more and more evident that the craft market is one of the most competitive industries in the US right now.

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