March 29/Chicago/M&A Navigator -- U.S. brewer Goose Island said it had agreed to be taken over by Belgian sector player Anheuser-Busch InBev, to ensure cash needed to expand its distribution in Chicago and the Midwest, as well as to boost production to match consumer demand.

Under the terms of the deal, U.S. Anheuser-Busch, a fully owned unit of Anheuser-Busch InBev and Goose Island distributor, will buy 58% in the company from Goose Holdings Inc. for $22.5 million and the other 42% from Craft Brewers Alliance for $16.3 million in cash, the U.S. brewer said in a press release.

Goose Island, legally named Fulton Street Brewery LLC, will invest $1.3 million to expand production at its Chicago Fulton Street brewery this summer, as demand increased beyond its capacity.