<PAGE>
 
                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 10-Q

[X]            QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d)
                   OF THE SECURITIES AND EXCHANGE ACT OF 1934

For the quarterly period ended            March 31, 2001

OR

[_]  TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES AND
                              EXCHANGE ACT OF 1934

              For the transition period from..........to..........

                         Commission file number: 1-14092

                          THE BOSTON BEER COMPANY, INC.
             (Exact name of registrant as specified in its charter)

MASSACHUSETTS                                            04-3284048
(State or other jurisdiction of incorporation            (I.R.S. Employer
or organization)                                         Identification No.)

                   75 Arlington Street, Boston, Massachusetts
                    (Address of principal executive offices)
                                      02116
                                   (Zip Code)

                                 (617) 368-5000
              (Registrant's telephone number, including area code)

Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days.

                                Yes  X       No ____
                                    ---

Number of shares outstanding of each of the issuer's classes of common stock, as
of May 3, 2001:

   Class A Common Stock, $.01 par value                          12,336,519
   Class B Common Stock, $.01 par value                           4,107,355
   (Title of each class)                                  (Number of shares)

                                       1

<PAGE>
 
                 THE BOSTON BEER COMPANY, INC. AND SUBSIDIARIES
                                    FORM 10-Q

                                QUARTERLY REPORT

                                 MARCH 31, 2001

                                TABLE OF CONTENTS


<TABLE>
<CAPTION>

PART I.  FINANCIAL INFORMATION                                    PAGE
<S>                                                               <C>

        Item 1.  Consolidated Financial Statements

                 Consolidated Balance Sheets
                 March 31, 2001 and December 30, 2000               3

                 Consolidated Statements of Operations for the
                 Three Months Ended March 31, 2001 and
                 March 25, 2000                                     4

                 Consolidated Statements of Cash Flows for the
                 Three Months Ended March 31, 2001 and
                 March 25, 2000                                     5

                 Notes to Consolidated Financial Statements         6-7


        Item 2.  Management's Discussion and Analysis of
                 Financial Condition and Results of Operations      8-10


PART II. OTHER INFORMATION


        Item 1.  Legal Proceedings                                  11


        Item 2.  Changes in Securities                              11


        Item 3.  Defaults Upon Senior Securities                    11


        Item 4.  Submission of Matters to a Vote of
                   Security Holders                                 11


        Item 5.  Other Information                                  11


        Item 6.  Exhibits and Reports on Form 8-K                11-14

SIGNATURES                                                          15
</TABLE>
 

                                       2

<PAGE>
 
                 THE BOSTON BEER COMPANY, INC. AND SUBSIDIARIES
                           CONSOLIDATED BALANCE SHEETS
                        (in thousands, except share data)
                                   (unaudited)


<TABLE> 
<CAPTION> 
                                                                                  March 31,  December 30,
                                                                                    2001         2000
                                                                                  ---------    ---------
<S>                                                                               <C>          <C> 
ASSETS
     Current Assets:
             Cash and cash equivalents                                            $   1,114    $   6,256
             Short-term investments                                                  34,247       28,858
             Accounts receivable, net of the allowance for doubtful accounts of
               $625 as of March 31, 2001 and December 30, 2000                       17,355       12,593
             Inventories
                                                                                     14,578       15,739
             Prepaid expenses                                                           809        1,619
             Deferred income taxes                                                    2,415        2,415
             Other current assets                                                       776          927
                                                                                  ---------    ---------
                 Total current assets                                                71,294       68,407

             Property, plant and equipment, net of accumulated depreciation of
               $25,892 and $24,906, respectively                                     26,435       27,047
             Goodwill, net of accumulated amortization $41 and $16 as of
                March 31, 2001 and December 30, 2000, respectively                    1,452        1,477
             Other assets                                                             1,514        1,671
                                                                                  ---------    ---------
                 Total assets                                                     $ 100,695    $  98,602
                                                                                  =========    =========

LIABILITIES AND STOCKHOLDERS' EQUITY
     Current Liabilities:
             Accounts payable                                                     $   5,816    $   6,506
             Accrued expenses                                                        15,323       13,940
                                                                                  ---------    ---------
                 Total current liabilities                                           21,139       20,446

    Long-term deferred taxes                                                          1,833        1,833
                                                                                  ---------    ---------
    Other long-term liabilities                                                       2,313        2,634
                                                                                  ---------    ---------

    Stockholders' Equity:
             Class A Common Stock, $.01 par value;
                 22,700,000 shares authorized; 16,483,052 and 16,458,857 issued
               and outstanding as of March 31, 2001 and
                 December 30, 2000, respectively                                        165          165
             Class B Common Stock, $.01 par value; 4,200,000 shares
                authorized; 4,107,355 issued and outstanding                             41           41
             Additional paid-in-capital                                              57,057       56,859
             Unearned compensation                                                     (173)        (156)
             Unrealized gain on short-term investments                                   30         --
             Retained earnings                                                       51,263       47,814
             Less:  Treasury Stock
                 4,121,850 and 3,906,700 shares as of March 31, 2001
                 December 30, 2000, respectively at cost                            (32,973)     (31,034)
                                                                                  ---------    ---------
                 Total stockholders' equity                                          75,410       73,689
                                                                                  ---------    ---------
                 Total liabilities and stockholders' equity                       $ 100,695    $  98,602
                                                                                  =========    =========
</TABLE>
 

              The accompanying notes are an integral part of the 
                       consolidated financial statements

                                       3

<PAGE>
 
                 THE BOSTON BEER COMPANY, INC. AND SUBSIDIARIES
                      CONSOLIDATED STATEMENTS OF OPERATIONS
                      (in thousands, except per share data)
                                   (unaudited)

                                                    Three months ended
                                                    ------------------
                                                    March 31  March 25
                                                      2001      2000
                                                     -------   -------
Sales                                                $46,218   $49,276
Less excise taxes                                      4,542     5,019
                                                     -------   -------
     Net sales                                        41,676    44,257
Cost of sales                                         17,437    19,615
                                                     -------   -------
     Gross profit                                     24,239    24,642

Operating expenses:
Advertising, promotional and selling expenses         15,207    16,140
General and administrative expenses                    3,727     2,983
                                                     -------   -------
     Total operating expenses                         18,934    19,123
                                                     -------   -------
Operating income                                       5,305     5,519
                                                     -------   -------

Other income (expense):
Interest income, net                                     477       514
Other income                                              87       128
                                                     -------   -------
     Total other income                                  564       642
                                                     -------   -------

Income before provision for income taxes               5,869     6,161
Provision for income taxes                             2,420     2,588
                                                     -------   -------
Net income                                           $ 3,449   $ 3,573
                                                     =======   =======

Earnings per common share--basic                     $  0.21   $  0.19
                                                     =======   =======
Earnings per common share--diluted                   $  0.21   $  0.19
                                                     =======   =======

Weighted average number of common shares--basic       16,485    18,859
                                                     =======   =======
Weighted average number of common shares--diluted     16,579    18,905
                                                     =======   =======

              The accompanying notes are an integral part of the 
                       consolidated financial statements

                                       4

<PAGE>
 
                 THE BOSTON BEER COMPANY, INC. AND SUBSIDIARIES
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                                 (in thousands)
                                   (unaudited)


<TABLE> 
<CAPTION> 
                                                                              Three months ended
                                                                             --------------------
                                                                             March 31,   March 25,
                                                                               2001        2000
                                                                             --------    --------
<S>                                                                          <C>         <C>  
Cash flows from operating activities:
Net income                                                                   $  3,449    $  3,573
Adjustments to reconcile net income to net cash
   provided by operating activities:
         Depreciation and amortization                                          1,621       1,477
         Gain on disposal of fixed assets                                         (50)        (89)
         Stock option compensation expense                                         18          20
    Changes in assets and liabilities:
         Accounts receivable                                                   (4,603)     (2,749)
         Inventory                                                              1,161        (220)
         Prepaid expenses                                                         810       1,564
         Other current assets                                                     125         (15)
         Other assets                                                              (8)        (13)
         Accounts payable                                                        (690)     (1,469)
         Accrued expenses                                                       1,383       1,266
         Other long-term liabilities                                             (185)       (423)
                                                                             --------    --------
Net cash provided by operating activities                                       3,031       2,922
                                                                             --------    --------

Cash flows for investing activities:
         Purchases of property, plant and equipment                              (952)     (1,515)
         Maturities of short-term investments                                   6,040      16,500
         Purchases of short-term investments                                  (11,399)    (13,331)
         Proceeds on disposal of fixed assets                                      50         222
                                                                             --------    --------
Net cash (used in) provided by investing activities                            (6,261)      1,876
                                                                             --------    --------

Cash flows from financing activities:
         Purchase of treasury stock                                            (1,939)     (5,801)
         Net proceeds from sale of Investment Shares                               27          15
                                                                             --------    --------
Net cash used in financing activities                                          (1,912)     (5,786)
                                                                             --------    --------

Net decrease in cash and cash equivalents                                      (5,142)       (988)

Cash and cash equivalents at beginning of period                                6,256       5,346
                                                                             --------    --------

Cash and cash equivalents at end of period                                   $  1,114    $  4,358
                                                                             ========    ========

Supplemental disclosure of cash flow information:
Interest paid                                                                $   --      $   --
                                                                             ========    ========
Income taxes paid                                                            $    313    $    205
                                                                             ========    ========
</TABLE>
 

              The accompanying notes are an integral part of the 
                       consolidated financial statements

                                       5

<PAGE>
 
                 THE BOSTON BEER COMPANY, INC. AND SUBSIDIARIES

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

A.       BASIS OF PRESENTATION

The Boston Beer Company, Inc. and its subsidiaries (the "Company") is engaged in
the business of brewing and selling malt beverages and cider products throughout
the United States and in selected international markets. The accompanying
consolidated financial position as of March 31, 2001 and the results of its
consolidated operations and consolidated cash flows for the quarter ended March
31, 2001 and March 25, 2000 have been prepared by the Company, without audit, in
accordance with generally accepted accounting principles for interim financial
information and pursuant to the rules and regulations of the Securities and
Exchange Commission. Accordingly, they do not include all of the information and
footnotes required for complete financial statements by generally accepted
accounting principles and should be read in conjunction with the audited
financial statements included in the Company's Annual Report on Form 10-K for
the year ended December 30, 2000.

Management's Opinion
In the opinion of the Company's management, the Company's unaudited consolidated
financial position as of March 31, 2001 and the results of its consolidated
operations and consolidated cash flows for the interim periods ended March 31,
2001 and March 25, 2000, reflect all adjustments (consisting only of normal and
recurring adjustments) necessary to present fairly the results of the interim
periods presented. The operating results for the interim periods presented are
not necessarily indicative of the results expected for the full year.

B.       SHORT-TERM INVESTMENTS

The Company's investments in debt securities, which typically mature in one year
or less, are valued at amortized cost, which approximates fair value. The
Company has the positive intent and ability to hold these securities until
maturity. The aggregate fair value at March 31, 2001 and December 30, 2000 was
$8.4 million and $9.4 million, respectively, for investments in US government
obligations and corporate debt.

Available-for-sale investments consisted of investments in mutual funds backed
by United States government securities having a cost of $25.8 million and $19.5
million, as of March 31, 2001 and December 30, 2000, respectively.
Available-for-sale securities are recorded at fair value in investments on the
balance sheet, with the change in fair value during the period excluded from
earnings and recorded net of tax as a component of other comprehensive income.

The Company recorded unrealized gains of approximately $30,000 and $0 on
available-for-sale securities as of March 31, 2001 and March 25, 2000. There
were no realized gains or losses recoded during the period ended March 31, 2001
and March 25, 2000.

C.       INVENTORIES

Inventories, which consist principally of hops, brewery materials and packaging,
are stated at the lower of cost, determined on a first-in, first-out (FIFO)
basis, or market.

Inventories consist of the following (in thousands):

                                               March 31,      December 30,
                                                  2001            2000
                                              -----------     ------------
Raw materials, principally hops                  $ 12,802         $ 14,076
Work in process                                       733              787
Finished goods                                      1,043              876
                                              -----------     ------------
                                                 $ 14,578         $ 15,739
                                              ===========     ============

D.       EARNINGS PER SHARE

The following table sets forth the computation of basic and diluted earnings per
share in accordance with Statement of Financial Accounting Standard No. 128 (in
thousands, except per share data):

                                       6

<PAGE>
 
                 THE BOSTON BEER COMPANY, INC. AND SUBSIDIARIES
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

D.       EARNINGS PER SHARE (continued)
                                                     For the three months ended
                                                        -----------------------
                                                        March 31,   March 25, 
                                                          2001        2000    
                                                        ---------   --------- 
Net income                                              $   3,449   $   3,573 
                                                        ---------   --------- 
                                                                              
Shares used in earnings per common share - basic           16,485      18,859 
Dilutive effect of common equivalent shares                    94          46 
                                                        ---------   --------- 
Shares used in earnings per common share - diluted         16,579      18,905 
                                                                              
Earnings per common share - basic                       $    0.21   $    0.19 
                                                        =========   ========= 
Earnings per common share - diluted                     $    0.21   $    0.19 
                                                        =========   =========  

E.       COMPREHENSIVE INCOME

Comprehensive income calculated in accordance with Statement of Financial
Accounting Standard No. 130 is as follows (in thousands):

                                                  For the three months ended   
                                                ------------------------------
                                                   March 31,         March 25,  
                                                     2001              2000     
                                                 ------------      ------------ 
Net income                                       $      3,449      $      3,573 
     Plus: unrealized gain on                                             
              available-for-sale securities                30                 -
                                                 ------------      ------------
Comprehensive income                             $      3,479      $      3,573 
                                                 ============      ============ 

Accumulated other comprehensive income calculated in accordance with Statement
of Financial Accounting Standard No. 130 is as follows (in thousands):

                                                    For the three months ended
                                                  ----------------------------
                                                   March 31,         March 25,
                                                     2001              2000   
                                                  ----------        ----------
Beginning Balance                                 $        -        $        -
Unrealized gain on available-for-sale-securities           30                -
                                                  -----------       ----------
Ending balance                                    $        30       $        -
                                                  ===========       ==========

                                       7

<PAGE>
 

I
tem 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
         OF OPERATIONS

The following is a discussion of the financial condition and results of
operations of the Company for the three-month period ended March 31, 2001 as
compared to the three-month period ended March 25, 2000. This discussion should
be read in conjunction with the Management's Discussion and Analysis of
Financial Condition and Results of Operations, Consolidated Financial Statements
of the Company and Notes thereto included in the Form 10-K for the fiscal year
ended December 30, 2000.

RESULTS OF OPERATIONS

Three Months Ended March 31, 2001 compared to Three Months Ended March 25, 2000

For purposes of this discussion, Boston Beer's "core brands" include all
products sold under Samuel Adams(R), Oregon Original(TM), HardCore(R) or Twisted
Tea(TM) trademarks. "Core brands" do not include the products brewed at the
Cincinnati Brewery under contract arrangements for third parties. Volume
produced under contract arrangements is referred to below as "non-core
products". Boston Beer's flagship brand is Samuel Adams Boston Lager(R) ("Boston
Lager").

Net sales. Net sales decreased by $2.6 million or 5.8% to $41.7 million for the
three months ended March 31, 2001 from $44.3 million for the three months ended
March 25, 2000. The decrease is primarily due to a decrease in volume of Boston
Beer's core brands which was partially offset by increases in selling prices.

Volume. Total volume decreased by 6.9% to 270,000 barrels in the three months
ended March 31, 2001 from 290,000 barrels in the three months ended March 25,
2000. Core brands decreased by 6.8% to 260,000 barrels for the quarter ended
March 31, 2001 from 279,000 barrels for the quarter ended March 25, 2000. The
decrease in core brands is primarily due to decreases in Boston Lager and year
round products.

Selling Price. The selling price per barrel increased approximately 1.2% to
$154.36 per barrel for the quarter ended March 31, 2001. This increase is due to
price increases that were partially offset by changes in the packaging mix. The
ratio of kegs to bottles increased, with kegs representing 32.0% of total
shipments in the three months ended March 31, 2001 as compared to 28.8% for the
same period last year.

Significant changes in the packaging mix would have a material effect on sales.
The Company packages its core brands in kegs and bottles. Assuming the same
level of production, a shift in the mix to kegs from bottles would effectively
decrease revenue per barrel, as the selling price per equivalent barrel is lower
for kegs than for bottles.

Gross Profit. Gross profit was 58.2% as a percentage of net sales or $89.78 per
barrel for the quarter ended March 31, 2001, as compared to 55.7% and $84.96 for
the quarter ended March 25, 2000. The increase was primarily due to price
increases, packaging mix changes and decreases in cost of goods sold.

Cost of sales decreased by $3.04 per barrel to 41.8% as a percentage of net
sales or $64.59 per barrel for the quarter ended March 31, 2001, as compared to
44.3% as a percentage of net sales or $67.63 per barrel for the quarter ended
March 25, 2000. This is primarily due to packaging mix changes and lower hop
related costs such as contract cancellations and reserves for excess inventory
on hand. See Hop Purchase Commitments for further discussion on potential future
losses relating to hops.

Significant changes in the packaging mix would also have a material effect on
gross profit. Assuming the same level of production, a shift in the mix to kegs
from bottles would effectively decrease gross profit sold per barrel, as the
gross profit per equivalent barrel is lower for kegs than for bottles.

Advertising, promotional and selling. As a percentage of net sales, advertising,
promotional and selling expenses were 36.5% for both the three months ended
March 31, 2001 and March 25, 2000. Advertising, promotional and selling expenses
decreased by $933,000 or 5.8% to $15.2 million for the three months ended March
31, 2001, compared to $16.1 million for the three months ended March 25, 2000.
This decrease is primarily due to a delay in media spending.

General and Administrative. General and administrative expenses increased by
24.9% or $744,000 to $3.7 million for the quarter ended March 31, 2001 as
compared to the same period last year. The increase was primarily due to
increases in legal expenses, salaries and benefits and consulting costs.

                                       8

<PAGE>
 
Item 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
         OF OPERATIONS (continued)

Interest income, net. Interest income decreased by 7.2% to $477,000 due to a
decrease in average cash and short-term investments to approximately $35.3
million during the first quarter 2001 from $42.3 million during the first
quarter 2000. The decline of cash and short-term investments was primarily due
to the repurchase of Company shares under a repurchase program discussed below
in "Liquidity and Capital Resources."

Other income. Other income (expense), net decreased by $41,000 to $87,000 for
the three months ended March 31, 2001 from $128,000 for same period last year
primarily due to a reduction in the disposal of fixed assets which previously
generated gains.

LIQUIDITY AND CAPITAL RESOURCES

Company's financial condition continued to be strong during the first quarter of
2001 as cash and short-term investments increased slightly to $35.4 million as
of March 31, 2001 from $35.1 million as of December 30, 2000. For the three
months ended March 31, 2001, cash provided by operating activities of $3.0
million offset cash used in financing activities of $1.9 million and purchases
of property, plant and equipment of $952,000.

During the first quarter of 2001, the Company repurchased 215,000 shares of its
outstanding Class A Common Stock at an aggregate cost of $1.9 million under its
stock repurchase program. Under this program, the Company has repurchased a
total of 4.1 million shares at an aggregate cost of $33.0 million as of March
30, 2001. Effective April 17, 2001, the Board of Directors increased the
aggregate expenditure limitation on the Company's stock repurchase program by
$5.0 million to $40.0 million.

With working capital of $50.2 million and $45.0 million in unused bank lines of
credit as of March 31, 2001, the Company believes that its existing resources
should be sufficient to meet the Company's short-term and long-term operating
and capital requirements.

THE POTENTIAL IMPACT OF KNOWN FACTS, COMMITMENTS, EVENTS AND UNCERTAINTIES

Hops Purchase Commitments
The Company utilizes several varieties of hops in the production of its
products. To ensure adequate supplies of these varieties, the Company entered
into advanced multi-year purchase commitments based on forecasted future hop
requirements among other factors. The Company now believes that it's actual
future requirements will be significantly lower than the original forecast on
which its existing purchase commitments was based. Factors affecting the current
forecast of requirements include: the slow down of sales growth during the
1990's, the discontinuation of certain beer styles, and the improved utilization
of hops in production due to process improvements and higher brewing utility
values of recent hop crops.

Since the late 1990's there has also been a decline in the market prices of
hops. This decline is estimated to be 20% to 80% of the Company's historical
costs, depending on hop variety. The decline in market price is due to an
oversupply of certain varieties and changes in foreign exchange rates and
appears to be non-temporary in nature. The decline in market price significantly
challenges the Company's ability to reduce its excess inventories through
disposal of hop inventories and purchase commitments at reasonable penalties.

Generally accepted accounting principles require the Company to reserve for
losses related to excess inventory and purchase commitments by estimating the
range of potential losses and, because no amount within this range represents a
better estimate of the loss than any other, recording a reserve at the lower
value of the range. As of March 31, 2001, the Company estimates this range of
loss to be $1.9 million to $5.4 million. During the quarters ending March 31,
2001 and March 25, 2000, the Company recorded charges of $0 and $397,000,
respectively, for inventory reserves and cancellation fees associated with
excess hops inventories and purchase commitments.

Generally accepted accounting principles preclude the Company from recording a
lower of cost or market reserve for the decline in hops market prices because
the Company can still recover its cost through the sale of the finished product.
As of March 31, 2001 the Company estimates the difference between the market
value and book value of the hop inventory and the hop purchase commitments is
approximately $9.8 million.

                                       9

<PAGE>
 
The Company continues to manage inventory levels and purchase commitments in an
effort to maximize the utilization of hops on hand and under commitment. To the
extent management decides to cancel hops purchase commitments in the future, or
sell existing excess hops inventory, it is anticipated that significant losses
would be recorded at that time.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Since December 30, 2000, there have been no significant changes in the Company's
exposures to interest rate or foreign currency rate fluctuations. The Company
currently does not enter into derivatives or other market risk sensitive
instruments for the purpose of hedging or for trading purposes.

FORWARD-LOOKING STATEMENTS

In this Form 10-Q and in other documents incorporated herein, as well as in oral
statements made by the Company, statements that are prefaced with the words
"may," "will," "expect," "anticipate," "continue," "estimate," "project,"
"intend," "designed" and similar expressions, are intended to identify
forward-looking statements regarding events, conditions, and financial trends
that may affect the Company's future plans of operations, business strategy,
results of operations and financial position. These statements are based on the
Company's current expectations and estimates as to prospective events and
circumstances about which the Company can give no firm assurance. Further, any
forward-looking statement speaks only as of the date on which such statement is
made, and the Company undertakes no obligation to update any forward-looking
statement to reflect events or circumstances after the date factor that may
emerge, forward-looking statements should not be relied upon as a prediction of
actual future financial condition or results. These forward-looking statements,
like any forward-looking statements, involve risks and uncertainties that could
cause actual results to differ materially from those projected or unanticipated.
Such risks and uncertainties include the factors set forth below in addition to
the other information set forth in this Form 10-Q.

                                       10

<PAGE>
 
P
ART II.          OTHER INFORMATION


        Item 1.   LEGAL PROCEEDINGS


                  Two complaints were filed against the Company in 2000 relating
                  to its use of the word "BoDean's" in connection with its
                  BoDean's Twisted Tea product. Both complainants sought damages
                  in an unspecified amount. One of the lawsuits has been
                  settled. The Company is in negotiations with the plaintiff in
                  the other lawsuit and currently anticipates the settlement of
                  that lawsuit. The Company does not believe either suit, or the
                  two suits in combination, will have a materially adverse
                  impact on the results of operation, cash flow or financial
                  position of the Company.

                  The Company is party to certain claims and litigation in the
                  ordinary course of business. The Company does not believe any
                  of these proceedings will, individually or in the aggregate,
                  have a material adverse effect upon its financial condition or
                  results of operations.


       Item 2.    CHANGES IN SECURITIES

                  Not Applicable


       Item 3.    DEFAULTS UPON SENIOR SECURITIES

                  Not Applicable


       Item 4.    SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

                  Not Applicable


       Item 5.    OTHER INFORMATION

                  Not Applicable


       Item 6.    EXHIBITS AND REPORTS ON FORM 8-K

         (a)      Exhibits

                Exhibit No.                      Title
                -----------                      -----
                    3.1    Amended and Restated By-Laws of the Company, dated
                           June 2, 1998 (incorporated by reference to Exhibit
                           3.5 to the Company's Form 10-Q filed on August 10,
                           1998).

                    3.2    Restated Articles of Organization of the Company,
                           dated July 21, 1998 (incorporated by reference to
                           Exhibit 3.6 to the Company's Form 10-Q filed on
                           August 10, 1998).

                    4.1    Form of Class A Common Stock Certificate
                           (incorporated by reference to Exhibit 4.1 to the
                           Company's Registration Statement No. 33-96164).

                   10.1    Revolving Credit Agreement between Fleet Bank of
                           Massachusetts, N.A. and Boston Beer Company Limited
                           Partnership (the "Partnership"), dated as of May 2,
                           1995 (incorporated by reference to Exhibit 10.1 to
                           the Company's Registration Statement No. 33-96162).

                   10.2    Loan Security and Trust Agreement, dated October 1,
                           1987, among Massachusetts Industrial Finance Agency,
                           the Partnership and The First National Bank of
                           Boston, as Trustee, as amended (incorporated by
                           reference to Exhibit 10.2 to the Company's
                           Registration Statement No. 33-96164).

                                       11

<PAGE>
 
                Exhibit No.                      Title
                -----------                      -----

                   10.3    Deferred Compensation Agreement between the
                           Partnership and Alfred W. Rossow, Jr., effective
                           December 1, 1992 (incorporated by reference to
                           Exhibit 10.3 to the Company's Registration Statement
                           No. 33-96162).


                   10.4    The Boston Beer Company, Inc. Employee Equity
                           Incentive Plan, as adopted effective November 20,
                           1995 and amended effective February 23, 1996
                           (incorporated by reference to Exhibit 4.1 to the
                           Company's Registration Statement No. 333-1798).

                   10.5    Form of Employment Agreement between the Partnership
                           and employees (incorporated by reference to Exhibit
                           10.5 to the Company's Registration Statement No.
                           33-96162).

                   10.6    Services Agreement between The Boston Beer Company,
                           Inc. and Chemical Mellon Shareholder Services, dated
                           as of October 27, 1995 (incorporated by reference to
                           the Company's Form 10-K, filed on April 1, 1996).

                   10.7    Form of Indemnification Agreement between the
                           Partnership and certain employees and Advisory
                           Committee members (incorporated by reference to
                           Exhibit 10.7 to the Company's Registration Statement
                           No. 33-96162).

                   10.8    Stockholder Rights Agreement, dated as of December,
                           1995, among The Boston Beer Company, Inc. and the
                           initial Stockholders (incorporated by reference to
                           the Company's Form 10-K, filed on April 1, 1996). 


                 +10.10    Agreement between Boston Brewing Company, Inc. and
                           The Stroh Brewery Company, dated as of January 31,
                           1994 (incorporated by reference to Exhibit 10.9 to
                           the Company's Registration Statement No. 33-96164).

                 +10.11    Agreement between Boston Brewing Company, Inc. and
                           the Genesee Brewing Company, dated as of July 25,
                           1995 (incorporated by reference to Exhibit 10.10 to
                           the Company's Registration Statement No. 33-96164).

                 +10.12    Amended and Restated Agreement between Pittsburgh
                           Brewing Company and Boston Brewing Company, Inc.
                           dated as of February 28, 1989 (incorporated by
                           reference to Exhibit 10.11 to the Company's
                           Registration Statement No. 33-96164).

                  10.13    Amendment to Amended and Restated Agreement between
                           Pittsburgh Brewing Company, Boston Brewing Company,
                           Inc., and G. Heileman Brewing Company, Inc., dated
                           December 13, 1989 (incorporated by reference to
                           Exhibit 10.12 to the Company's Registration Statement
                           No. 33-96162).

                 +10.14    Second Amendment to Amended and Restated Agreement
                           between Pittsburgh Brewing Company and Boston Brewing
                           Company, Inc. dated as of August 3, 1992
                           (incorporated by reference to Exhibit 10.13 to the
                           Company's Registration Statement No. 33-96164).

                 +10.15    Third Amendment to Amended and Restated Agreement
                           between Pittsburgh Brewing Company and Boston Brewing
                           Company, Inc. dated December 1,1994 (incorporated by
                           reference to Exhibit 10.14 to the Company's
                           Registration Statement No. 33-96164).

                   10.16   Fourth Amendment to Amended and Restated Agreement
                           between Pittsburgh Brewing Company and Boston Brewing
                           Company, Inc. dated as of April 7,1995 (incorporated
                           by reference to Exhibit 10.15 to the Company's
                           Registration Statement No. 33-96162).

                                       12

<PAGE>
 
                Exhibit No.                      Title
                -----------                      -----

                  +10.17   Letter Agreement between Boston Beer Company Limited
                           Partnership and Joseph E. Seagram & Sons, Inc.
                           (incorporated by reference to Exhibit 10.16 to the
                           Company's Registration Statement No. 33-96162).

                   10.18   Services Agreement and Fee Schedule of Mellon Bank,
                           N.A. Escrow Agent Services for The Boston Beer
                           Company, Inc. dated as of October 27, 1995
                           (incorporated by reference to Exhibit 10.17 to the
                           Company's Registration Statement No. 33-96164).

                   10.19   Amendment to Revolving Credit Agreement between Fleet
                           Bank of Massachusetts, N.A. and the Partnership
                           (incorporated by reference to Exhibit 10.18 to the
                           Company's Registration Statement No. 33-96164).

                   10.20   1996 Stock Option Plan for Non-Employee Directors
                           (incorporated by reference to the Company's Form
                           10-K, filed on March 27, 1998).

                  +10.21   Production Agreement between The Stroh Brewery
                           Company and Boston Beer Company Limited Partnership,
                           dated January 14, 1997 (incorporated by reference to
                           the Company's Form 10-K, filed on March 27, 1998).

                  +10.22   Letter Agreement between The Stroh Brewery Company
                           and Boston Beer Company Limited Partnership, dated
                           January 14, 1997 (incorporated by reference to the
                           Company's Form 10-K, filed on March 27, 1998).

                  +10.23   Agreement between Boston Beer Company Limited
                           Partnership and The Schoenling Brewing Company, dated
                           May 22, 1996 (incorporated by reference to the
                           Company's Form 10-K, filed on March 27, 1998).

                   10.24   Revolving Credit Agreement between Fleet Bank of
                           Massachusetts, N.A. and The Boston Beer Company,
                           Inc., dated as of March 21, 1997 (incorporated by
                           reference to the Company's Form 10-Q, filed on May
                           12, 1997).

                  +10.25   Amended and Restated Agreement between Boston Brewing
                           Company, Inc. and the Genesee Brewing Company, Inc.
                           dated April 30, 1997 (incorporated by reference to
                           the Company's Form 10-Q, filed on August 11, 1997).

                  +10.26   Fifth Amendment, dated December 31, 1997, to Amended
                           and Restated Agreement between Pittsburgh Brewing
                           Company and Boston Brewing Company, Inc.
                           (incorporated by reference to the Company's Form
                           10-K, filed on March 27, 1998).

                   10.27   Extension letters, dated August 19, 1997, November
                           19, 1997, December 19, 1997, January 22, 1998,
                           February 25, 1998 and March 11, 1998 between The
                           Stroh Brewery Company and Boston Brewing Company,
                           Inc. (incorporated by reference to the Company's Form
                           10-K, filed on March 27, 1998).

                  +10.28   Employee Equity Incentive Plan, as amended and
                           effective on December 19, 1997 (incorporated by
                           reference to the Company's Form 10-K, filed on March
                           27, 1998).

                  +10.29   1996 Stock Option Plan for Non-Employee Directors, as
                           amended and effective on December 19, 1997
                           (incorporated by reference to the Company's Form
                           10-K, filed March 27, 1998).

                  +10.30   Glass Supply Agreement between The Boston Beer
                           Company and Owens' Brockway Glass Container Inc.,
                           dated April 30, 1998 (incorporated by reference to
                           the Company's Form 10-Q, filed on August 10, 1998).

                                       13

<PAGE>
 
                 Exhibit No.                      Title
                 -----------                      -----

                  10.31    Extension letters, dated April 13, 1998, April 27,
                           1998, June 11, 1998, June 25, 1998 and July 20, 1998
                           between The Stroh Brewery Company and Boston Brewing
                           Company, Inc. (incorporated by reference to the
                           Company's Form 10-Q, filed on August 10, 1998).

                 +10.33    Amended and Restated Production Agreement between The
                           Stroh Brewery Company and Boston Beer Company Limited
                           Partnership, dated November 1, 1998 (incorporated by
                           reference to the Company's Form 10-K, filed on March
                           25, 1999).

                  10.34    Agreement between Boston Beer Company Limited
                           Partnership, Pabst Brewing Company and Miller Brewing
                           Company, dated February 5, 1999 (incorporated by
                           reference to the Company's Form 10-K, filed on March
                           25, 1999).

                  10.35    Amendment to Revolving Credit Agreement between Fleet
                           Bank of Massachusetts, N.A. and The Boston Beer
                           Company, Inc., dated March 30, 1999.

                 +10.36    Agreement between Boston Beer Company Limited
                           Partnership and Landstar Logistics and
                           Transportation, dated January 9, 1999.

                 +10.37    Consent to Assignment of the Amended and Restated
                           Agreement between Boston Brewing Company, Inc. and
                           the Genesee Brewing Company, Inc. dated April 30,
                           1997 to Monroe Brewing Co., LLC (now known as High
                           Falls Brewing Company, LLC) dated December 15,
                           2000(incorporated by reference to the Company's 10-K,
                           filed on March 31, 2001).

                 +10.38    Guaranty of The Genesee Brewing Company, Inc. dated
                           December 15, 2000 in favor of Boston Brewing Company,
                           Inc., for itself and as the sole general partner of
                           Boston Beer Company Limited Partnership in connection
                           with the Consent of Assignment of the Amended and
                           Restated Agreement between Boston Brewing Company,
                           Inc. and the Genesee Brewing Company, Inc. dated
                           April 30, 1997 to Monroe Brewing Co., LLC (now known
                           as High Falls Brewing Company, LLC) dated December
                           15, 2000 (incorporated by reference to the Company's
                           10-K, filed on March 31, 2001).

                  *11.1    The information required by exhibit 11 has been
                           included in Note D of the notes to the consolidated
                           financial statements.

                   21.1    List of subsidiaries of The Boston Beer Company, Inc.
                           (incorporated by reference to the Company's Form
                           10-K, filed on March 28, 1997).

                   21.2    List of subsidiaries of The Boston Beer Company, Inc.
                           effective as of December 30, 2000

                 * Filed with this report.

                 + Portions of this Exhibit have been omitted pursuant to an
                   application for an order declaring confidential treatment
                   filed with the Securities and Exchange Commission.

         (b)             Reports on Form 8-K.

                  The Company filed no reports on Form 8-K with the Securities
                  and Exchange Commission during the quarter ended March 31,
                  2001.

                                       14

<PAGE>
 

SIGNATURES

               Pursuant to the requirements of the Securities Exchange Act of
               1934, the registrant has duly caused this Form 10-Q to be signed
               on its behalf by the undersigned thereunto duly authorized.

                          THE BOSTON BEER COMPANY, INC.
                                  (Registrant)

         Date:  May 8, 2001        By:  /s/ Martin F. Roper
                                    ----------------------------------------
                                   Martin F. Roper
                                   President and Chief Executive Officer,
                                   (principal executive officer)






         Date:  May 8, 2001        By:  /s/ Richard P. Lindsay
                                   ------------------------------------------
                                   Richard P. Lindsay
                                   Chief Financial Officer (principal
                                   accounting and financial officer)

                                       15