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                                                                   EXHIBIT 10.37
                              PURCHASING AGREEMENT

           This Purchasing Agreement ("Agreement") is executed between Redhook
Ale Brewery, Incorporated ("Redhook") and Anheuser-Busch, Incorporated ("ABI")
as of March 27, 1998. In consideration of the covenants hereinafter set forth
and intending to be legally bound hereby, Redhook and ABI agree as follows:

           1. For purposes of this Agreement, (a) "Distribution Agreement" shall
mean the Master Distributor Agreement between ABI and Redhook dated October 18,
1994 as amended to the date hereof and as it may be amended from time to time;
(b) "Packaging Materials" shall mean glass bottles and corrugated boxes, trays,
solid fiber boxes, chipboard or corrugated partitions and carrier inserts used
to package the glass bottles; (c) "Requirements" shall mean the total amount of
each Packaging Material used by Redhook in all products manufactured by Redhook
in its breweries located in Woodinville and Seattle, Washington; (d) "Supplier"
shall mean Owens-Brockway, Inc.; and (e) "Supply Agreement" shall mean the Glass
Bottle Supply Agreement dated December 21, 1995 between ABI and Supplier, as
amended to the date hereof and as it may be amended from time to time.

           2. Except as provided for below, ABI agrees to source, supply and
sell to Redhook, and Redhook agrees to purchase from ABI, all of Redhook's
Requirements for Packaging Materials, such purchases and sales to commence on
April 1, 1998 (in the event Redhook has legally binding orders for Packaging
Materials placed prior to the date hereof, the purchases by Redhook pursuant to
such orders shall be deemed to reduce Redhook's Requirements hereunder).

           3. Notwithstanding the provisions of Section 2 hereof, Redhook shall
have the right to purchase up to 50% of its annual Requirements (measured by the
purchase price paid by Redhook for the Packaging Materials) from an alternative
source if (i) Redhook obtains a commitment from a supplier to provide Redhook
with substantially equivalent Packaging Materials at a per unit price at least
five percent lower than that available hereunder, with respect to which
commitment ABI does not exercise the right of first refusal created by this
Section 3 or (ii) after consultation with ABI and Supplier, Redhook determines
that there is a substantial possibility that Supplier will be unable to provide
Redhook with a supply of Packaging Materials adequate for its operations (such
determination to be made in good faith and on a commercially reasonably basis).
Prior to the exercise by Redhook of the right described in Section 3(i) hereof,
Redhook shall provide ABI and Supplier with at least 30 days advance written
notice (such 30 day period to begin no sooner than upon the expiration of ABI's
right of first refusal described below), such notice to indicate the quantities
of Packaging Materials to be purchased by Redhook from the alternative source.

                     Nothing in this section shall prohibit Redhook from
receiving unsolicited proposals from suppliers or from
soliciting proposals for the purchase and sale of Packaging Materials but
Redhook shall not disclose to any supplier the unit pricing paid 


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by Redhook hereunder. Redhook shall not accept any commitment from any supplier
for the purchase and sale of Packaging Materials for use in its State of
Washington operations pursuant to the right described in Section 3(i) hereof
without providing ABI in writing a 30 day right of first refusal.

           4. Supplier shall be the source for all Packaging Materials to be
purchased and sold pursuant to this Agreement. Redhook shall place all orders
for Packaging Materials directly with Supplier in a format agreed upon between
Redhook and Supplier and shall instruct Supplier to deliver all Packaging
Materials to Redhook's premises at Woodinville or Seattle, Washington.
Contemporaneously with placing each order with Supplier, Redhook shall notify
ABI in writing of such order, the quantities of Packaging Materials to be
purchased and sold pursuant to such order and the expected date of delivery of
such Packaging Materials. On or before November 30 of each year during the term
of this Agreement, Redhook shall provide Supplier and ABI with Redhook's best
estimate of Redhook's anticipated Requirements for Packaging Materials for the
next succeeding calendar year in a format satisfactory to each of Redhook and
Supplier. On or before the last business day of each month, Redhook shall
provide Supplier and ABI with a rolling three month forecast of Redhook's
anticipated Requirements for Packaging Materials in a format satisfactory to
each of Redhook and Supplier. On or before the last business day of each week,
Redhook shall provide Supplier and ABI with its estimated requirements for the
next succeeding week in a format satisfactory to each of Redhook and Supplier.

           5. The purchase price to be paid by Redhook for Packaging Materials
shall be the price quoted by Supplier to ABI for such Packaging Materials,
without giving effect to any rebates, annual or periodic adjustments, discounts
or price or volume incentives otherwise available to ABI. Redhook shall pay to
ABI the purchase price for any delivery of Packaging Materials within 10
calendar days of Redhook's acceptance of such delivery. At the option of ABI,
ABI may obtain payment of the purchase price, in whole or in part, by reducing
the amounts otherwise payable by ABI to Redhook pursuant to the Distribution
Agreement. If ABI elects to obtain payment by such method, ABI shall provide
Redhook with reasonable detail concerning the amounts owed by Redhook, and ABI
shall make such offset only against amounts due to be paid by ABI on or after
the date on which Redhook's payment for the Purchasing Materials would otherwise
have been due. In the event that with respect to any delivery of Packaging
Materials, ABI determines to obtain payment of any portion of the purchase price
therefor other than by means of such reduction, ABI shall provide to Redhook
written notice of such determination and Redhook shall pay to ABI such portion
of the purchase price by wire transfer of immediately available funds to an
account specified in writing by ABI (or by such other means as may be agreed
upon between ABI and Redhook) on or prior to the later of (i) 10 calendar days
after Redhook's receipt and acceptance of such delivery and (ii) 5 calendar days
after such notification.

           6. ABI shall have no responsibility or liability for any of the
conditions, properties, deliveries or specifications of the Packaging Materials.
With respect to any 



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order or delivery of Packaging Materials, Supplier's compliance with its
obligations under the terms of the Supply Agreement shall be deemed to satisfy
the rights of Redhook hereunder. At the request of Redhook, ABI shall assign to
Redhook all rights that ABI has against Supplier with respect to any Packaging
Materials that are delivered or were to be delivered to Redhook hereunder. In
the event that Redhook and Supplier are engaged in a dispute concerning any
delivery or order of Packaging Materials, Redhook shall not withhold payment of
any portion of the purchase price therefor unless (i) under the circumstances
such action is permitted to a purchaser under applicable law or under the rights
ABI has under the terms of the Supply Agreement and (ii) Redhook has notified
ABI in writing at least three business days prior to the date payment of the
purchase price would otherwise be required that it intends to withhold payment
of the purchase price. In the event of a dispute between Redhook and Supplier,
ABI shall use commercially reasonable best efforts to assist Redhook to resolve
such dispute equitably and shall provide Redhook with information in reasonable
detail concerning the provisions of the Supply Agreement pertinent to such
dispute. In the event that Redhook satisfies the requirements of this section
and duly and timely notifies ABI that it shall not pay the purchase price for
any delivery or order, then ABI shall not seek payment for such delivery or
order from Redhook until the earlier of such time (a) as Redhook instructs ABI
that it is willing to pay the purchase price or (b) as Redhook no longer
satisfies the criteria set forth in this section for withholding payment.

           7. (a) Except as otherwise provided in this Section 7, the
obligations of ABI and Redhook to purchase and sell Packaging Materials shall
continue until such time as the Supply Agreement is no longer in force.

                      (i) In the event that the Supply Agreement expires or is
terminated for any reason, then the purchase and sale obligations of Redhook and
ABI under this Agreement shall terminate on the date of expiration or
termination. ABI shall provide Redhook reasonable advance notice prior to any
expiration or termination of the Supply Agreement, to the extent reasonably
practicable.

                      (ii) In the event that Supplier and ABI amend any
provision of the Supply Agreement (including any provision relating to the term
thereof) that ABI reasonably expects to affect materially the benefits or
obligations of Redhook hereunder, ABI shall promptly notify Redhook thereof,
providing Redhook with information in reasonable detail concerning such
amendment. Within 30 days after receipt of such notification and information,
Redhook may, at its option, notify ABI and Supplier that it is terminating the
purchase and sale obligations of Redhook and ABI under this Agreement, such
notice to be provided no less than 30 days prior to the date of termination.

              (b) Either party shall have the right to terminate the purchase 
and sale obligation of Redhook and ABI under this Agreement, without prejudice
to any other legal rights to which such terminating party may be entitled, upon
the occurrence of any one or more of the following:



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                      (i) any default by the other party in the performance of
any of the provisions of this Agreement or by the Supplier in the performance of
its obligations under the Supply Agreement, which default is not cured within 30
days after written notice of such default;

                      (ii) the Distribution Agreement is duly terminated;

                      (iii) an assignment by the other party for the benefit of
creditors; or the commencement by the other party of a voluntary case or
proceeding or the consent to or the acquiescence by the other party in the entry
of an order for relief against it in an involuntary case or proceeding under any
bankruptcy, reorganization, insolvency or similar law;

                      (iv) the appointment of a trustee or receiver or similar
officer of any court for the other party or for a substantial part of the
property of the other party, whether with or without the consent of the other
party, which is not terminated within 60 days from the date of appointment;

                      (v) the institution of bankruptcy, reorganization,
insolvency or liquidation proceedings against the other party without such
proceedings being dismissed within 60 days from the date of the institution
thereof.

               (c) In the event that the orders and deliveries of Packaging
Materials made by Supplier to Redhook have failed in respects material to
Redhook's State of Washington operations to comply with the terms of the Supply
Agreement and Redhook determines (such determination to be made in good faith
and on a commercially reasonable basis) that such failures are likely to
continue, Redhook may terminate the purchase and sale obligations of Redhook and
ABI under this Agreement upon 30 days written notice to ABI and Supplier.

               (d) In the sole judgment of Redhook, Redhook may terminate the
purchase and sale obligations of Redhook and ABI under this Agreement by written
notice to ABI and Supplier delivered on or prior to October 31, such termination
to be effective on the next succeeding January 1.

               (e) In the event that ABI determines (such determination to be 
made in good faith and on a commercially reasonable basis) that Supplier is
likely to be unable to supply Packaging Materials to Redhook without reducing
the amount of Packaging Materials that it would otherwise deliver to ABI, at the
option of ABI, ABI may suspend deliveries of Packaging Materials hereunder to
Redhook upon 30 days written notice to Redhook to the extent necessary to assure
that Supplier is able to satisfy ABI's operational requirements for Packaging
Materials as determined by ABI (the determination by ABI of such operational
requirements to be made in good faith and on a commercially reasonable basis).
Deliveries of Packaging Materials to Redhook will 



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promptly resume upon ABI receiving assurances that it determines to be
reasonable (such determination to be made in good faith and on a commercially
reasonable basis) that Supplier's delivery of Packaging Materials to Redhook
will not reduce the amount of Packaging Materials that Supplier would otherwise
deliver to ABI. If any such suspension occurs and would be reasonably expected
to have a material adverse effect on Redhook's operations, Redhook may terminate
the purchase and sale of obligations of Redhook and ABI under this Agreement
upon 30 days advance written notice to ABI and Supplier.

               (f) In the event of any termination of the purchase and sale of
obligations of Redhook and ABI under this Agreement for any reason, at the
option of ABI, Redhook shall purchase from Supplier any inventory of Packaging
Materials produced or purchased by Supplier prior to the date of termination in
contemplation of the sale by Supplier of such Packaging Materials to Redhook.
Such purchases shall be in the ordinary course of business at the pricing
previously provided for under this Agreement, and on a delivery and payment
schedule that would have been applicable if the Agreement had not been
terminated.

           8. Redhook shall, and Redhook shall cause its officers, directors,
employees, agents and other representatives to, treat in confidence and not
disclose to others any of the material terms of this Agreement including the
unit pricing hereunder, or any other information disclosed to Redhook by ABI
pursuant to this Agreement, except to the extent that (A) any such information
is generally available to the public, (B) is acquired from a third party
rightfully having such information, (C) is already in their possession prior to
disclosure hereunder or is acquired by such party independently from any
disclosures pursuant to this Agreement or (D) as required by applicable law or
regulation. With respect to the foregoing confidentiality obligations, ABI
acknowledges that Redhook is likely to be required to file this Agreement with
the Securities and Exchange Commission as a material contract and will be
required to disclose the existence of this Agreement. Redhook agrees that any
such disclosure shall be limited in scope and detail to the extent permitted
under the applicable securities laws.

           With respect to the foregoing confidentiality obligations, Redhook
acknowledges that it has been informed that an unauthorized disclosure of the
terms of the purchasing agreements and arrangements between ABI and Supplier
could result in the termination of such agreements and arrangements and the
supply of Packaging Materials thereunder, or the loss of substantial commercial
benefits to ABI thereunder. In addition to other remedies available to ABI, in
the event of Redhook's breach of its foregoing confidentiality obligations, ABI
shall be entitled to injunctive and other equitable relief against Redhook to
prevent any such breach and, to the extent that any breach by Redhook of its
confidentiality obligations hereunder causes or contributes to the termination
of any purchasing agreements or arrangements between ABI and Supplier, Redhook
shall be liable to such extent for any harm or damages resulting to ABI from
such termination.



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           9. Redhook represents, warrants and covenants that all Packaging
Materials purchased by Redhook hereunder shall be used by Redhook in its
manufacture and packaging of malt beverage products and that Redhook shall not
resell any Packaging Materials prior to such materials being used by Redhook in
the manufacturing and packaging of malt beverage products.

           10. (a) Redhook shall indemnify, protect, defend and hold harmless
each of ABI, Anheuser-Busch Companies, Inc. ("A-BC"), other direct and indirect
subsidiaries of A-BC, and each of their respective directors, officers,
employees and agents, from and against all claims, liabilities, losses, damages,
injuries, demands, actions, causes of action, suits, proceedings, judgments and
reasonable expenses, including without limitation attorneys' fees, court costs
and other legal expenses arising from, connected with or attributable to (a) a
violation or breach or alleged violation or breach of any other agreements or
obligations to which Redhook is a party or by which it or its assets are bound
arising out of Redhook's execution and delivery of, or performance of its
obligations under, this Agreement and (b) Redhook's violation of its obligations
hereunder. In the event that Redhook fails to comply with any of its obligations
under this Agreement, at the option of ABI, ABI may perform such obligations on
behalf of Redhook and Redhook shall immediately reimburse ABI for all costs
incurred by ABI thereby.

              (b) ABI shall indemnify, protect, defend and hold harmless each of
Redhook, its direct and indirect subsidiaries and each of their respective
directors, officers, employees and agents, from and against all claims,
liabilities, losses, damages, injuries, demands, actions, causes of action,
suits, proceedings, judgments and reasonable expenses, including without
limitation attorneys' fees, court costs and other legal expenses arising from,
connected with or attributable to (a) a violation or breach or alleged violation
or breach of any other agreements or obligations to which ABI is a party or by
which it or its assets are bound arising out of ABI's execution and delivery of,
or performance of its obligations under, this Agreement and (b) ABI's violation
of its obligations hereunder. In the event that ABI fails to comply with any of
its obligations under this Agreement, at the option of Redhook, Redhook may
perform such obligations on behalf of ABI and ABI shall immediately reimburse
Redhook for all costs incurred by Redhook thereby.



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           11. All notices from one party to the other under the terms of this
Agreement, unless otherwise directed, shall be delivered by hand or by a
responsible overnight courier providing reasonable proof of delivery, addressed
to the parties at the addresses indicated below, and shall be deemed delivered
on the date of receipt if by hand delivery or the first business day succeeding
the date of posting, if sent by overnight courier:

           If to Redhook:

           Redhook Ale Brewery, Incorporated
           3400 Phinney Avenue North
           Seattle, Washington  98103
           Attn:  Chief Financial Officer

           If to ABI:

           Anheuser-Busch Companies, Inc.
           One Busch Place
           St. Louis, Missouri 63118
           Attention:  Vice President, Corporate Purchasing

           and

           Anheuser-Busch, Incorporated
           One Busch Place
           St. Louis, Missouri 63118
           Attention:  Vice President, Wholesaler System Development

           12. This Agreement is not assignable or transferable, in whole or in
part, by Redhook without the prior written consent of ABI.

           13. At the request of Redhook, ABI shall discuss with Redhook and
negotiate in good faith with Redhook concerning means by which ABI can assist
Redhook in purchasing Packaging Materials for use at Redhook's Portsmouth, New
Hampshire brewery at the lowest practicable price. In the event that the
purchase and sale obligations of Redhook and ABI under this Agreement are
terminated pursuant to Section 7(a) hereof, ABI shall discuss with Redhook and
negotiate in good faith with Redhook concerning means by which ABI can assist
Redhook in purchasing Packaging Materials at the lowest practicable price.

           14. (a) No term or provision of this Agreement may be changed,
waived, discharged or terminated orally, but only by an instrument in writing
signed by the party against which enforcement of the change, waiver, discharge
or termination is sought. The waiver by any party hereto of a breach of any
provision of this Agreement shall not operate or be construed as a waiver of any
preceding or succeeding breach, and no failure 



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by either party to exercise any right or privilege hereunder shall be deemed a
waiver of such party's rights or privileges hereunder or shall be deemed a
waiver of such party's rights to exercise the same at any subsequent time or
times hereunder.

               (b) This Agreement shall be deemed to have been made and entered
into in the State of Missouri and shall be governed by the laws of Missouri,
without regard to the principles thereof regarding conflicts of laws.

               (c) This Agreement may be executed in any number of counterparts,
each of which shall be deemed to be an original and all of which together shall
be deemed to be one and the same instrument.

               (d) This Agreement and the Consent, Waiver and Amendment between
ABI and Redhook dated as of September 19, 1997 constitute the entire agreement
among the parties hereto and supersede any prior understandings, agreements or
representations by or among the parties hereto, written or oral, to the extent
they are related in any way to the subject matter hereof.

               (e) ABI hereby represents and warrants that it has no knowledge
of the existence of any occurrence or development that would reasonably be
expected to result in the termination of the Supply Agreement (other than its
expiration pursuant to its terms).

           IN WITNESS WHEREOF, this Agreement is executed on behalf of the
parties hereto by their duly authorized officers as of the day and year first
above written.



                                      ANHEUSER-BUSCH, INCORPORATED


                                      By    /s/  BRUCE M. SANDISON
                                         ---------------------------------------
                                        Vice President
                                        Wholesaler System Development


                                      REDHOOK ALE BREWERY, INCORPORATED



                                      By    /s/  PAUL S. SHIPMAN
                                         ---------------------------------------
                                         President and Chief Executive Officer




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