Anheuser-Busch InBev is to acquire a majority stake in BeatBox, the US-based hard-punch maker.
The Leffe beer maker will pay up to around $490m for an 85% shareholding in BeatBox.
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The deal also offers the company a path to full ownership after five years under a “predetermined pricing formula”, a statement from the brewing giant said.
In November, The Wall Street Journal reported AB InBev was in talks to buy BeatBox. At the time, sources said a deal could value the the RTD brand at roughly $700m.
Announcing the deal for the majority stake on Friday (5 December), Anheuser-Busch InBev said BeatBox offers flavours and styles that are “incremental” to its existing RTD range.
Founded in 2011 and headquartered in Texas, BeatBox is sold across the US at more than 140,000 retailers.
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By GlobalDataIts portfolio spans 20 SKUs, including Blue Razzberry, Orange Blast, Mystic Grape, Lemon Squeeze and Sweet Heat Cinnamon.
The brand entered the UK in October through a distribution agreement with Red Star Brands, securing listings in 700 Morrisons stores.
That same month, parent company Future Proof announced plans to launch a flavoured malt beverage brand, Chillitas, in the US from next year.
In March, BeatBox secured investment from former NBA star Shaquille O’Neal.
Brendan Whitworth, the CEO of AB InBev’s US subsidiary Anheuser-Busch, said: “We have a proven playbook for building winning brands and I look forward to partnering with BeatBox and embarking on their next chapter of dynamic growth together.”
In January, AB InBev partnered with sports-nutrition group 1st Phorm to launch the Phorm Energy brand.
In April, Anheuser-Busch InBev launched vodka ice-tea brand Skimmers in the US.
