BELGIUM/MEXICO: Anheuser-Busch InBev seals US$20.1bn Modelo deal
The drawn-out deal completed today
The Budweiser brewer confirmed in a statement that Modelo will be "fully integrated" into its financial reporting as of today (4 June). A-B InBev finalised a tender offer for 95% of the Mexican brewer's shares late last week.
The deal was the subject of an anti-trust lawsuit filed by the US Department of Justice, which was settled in April. The tie-up also faced a last-minute threat by a group of nine consumers, who had separately filed a lawsuit over anti-trust concerns.
As a result of the DoJ lawsuit, A-B InBev was forced to agree to a number of concessions, including selling Modelo's Piedras Negras brewery to Constellation Brands. The US wine and spirits wholesaler will also take on the rights to Modelo's brands in the US in perpuity and its 50% stake in Crown Imports.
These transactions are expected to complete on Friday (7 June), A-B InBev said.
Carlos Brito, A-B InBev's CEO, said today: “We have tremendous respect for Grupo Modelo and its brands, and we are thrilled to welcome our Grupo Modelo colleagues to the global team.
"We look forward to realising our opportunities for growth and bringing our beers to more consumers around the world as we join two world-class brewers.”
- Whatever happened to binge Britain? - comment
- How to turn a domestic spirit into a global brand
- The US beer market - A level playing field for all
- Remy Cointreau's Q2 and H1 - preview
- This week in spirits & wine
- Diageo sells off United Spirits' Bouvet Ladubay
- Captain Morgan distillation trial queried by USVI
- Sazerac sues Brown-Forman over Tennessee Fire
- Sidney Frank CEO to head Clooney's import co
- Craft, imports near 50% share in US on-trade
- Global Beer Trends 2015 : Global Beer Trends and Long-term Forecasts
- Global sparkling wine insights - market forecasts, product innovation and consumer trends research
- Future growth opportunities for global spirits
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends research
- Global Wine Market to 2019 - Market Size, Development, and Forecasts