Heileman Brewing Files For Chapter 11

G. Heileman Brewing Co. filed for Chapter 11 bankruptcy protection Wednesday as part of an acquisition plan by The Stroh Brewery Co.

Stroh said Tuesday it has reached a preliminary agreement with Heileman to acquire the struggling beer maker.

Final details of the agreement are not expected to be worked out until July. Stroh announced in February its plans to acquire Heileman, which would solidify Stroh as the nation’s No. 4 beer maker.

In Wednesday’s filing in Delaware, the company listed assets of $743 million and liabilities of $753 million. Among the liabilities were $211 million in secured debt and $348 million in unsecured debt.