AB InBev Sells Peroni, Grolsch and Meantime brands for €2.55bn
Anheuser-Busch InBev has agreed to Asahi Group Holding’s offer to buy European brands, Peroni, Grolsch and Meantime for €2.55bn ($2.9bn), clearing another hurdle to win over European competition regulators in its efforts to acquire SABMiller.
AB InBev said on Tuesday that the sale of the brands to Asahi were conditional upon the completion of the $108bn purchase of SABMiller.
Asahi Group Holdings, which made its binding offer to AB InBev in February, is looking to expand its footprint internationally and become less dependent on a shrinking population in its home base of Japan.
The sale to Asahi is just the latest in a number of disposals AB InBev has negotiated as it works to gain regulatory approval around the world. It also triggers a round of consolidations in the global beer industry.
In March AB InBev agreed to sell SABMiller’s stake in CR Snow, makers of Snow brand in China to China Resources Beer Holdings Co, as it seeks regulatory approval in that country.
Similarly, AB InBev agreed to dispose-off SABMiller’s joint-venture partnership with MillerCoors LLC in the United States to Molsen Coors Brewing Co, its joint-venture partner.
And just last week the brewer reached a concessionary agreement with the South African government, which would pave the way for it to get regulatory approval in that country.
AB InBev is hoping to finalize the SABMiller deal in the second-half of this year.