Asahi set to buy Peroni, Grolsch labels
Print Edition
JAPANESE brewer Asahi Group said yesterday that it will buy the Peroni and Grolsch brands from Anheuser-Busch InBev, clearing a key regulatory hurdle for the Belgium-based firm’s tie-up with SABMiller.
Terms of the deal, which also includes UK craft brewer Meantime, were not released yesterday, but AB InBev said in February that Asahi had offered 2.55 billion euros (US$2.9 billion) for the brands.
“This transaction will be completed concurrently with and subject to the completing of AB InBev’s acquisition of SABMiller,” Asahi said in a statement, adding that it expects the deal to be completed in the second half of the year.
AB InBev said last year it wanted to sell the Italian, Dutch and British line-up in order to ease competition concerns and win approval from regulators.
In November, AB Inbev, which owns Corona, Beck’s, Budweiser and Stella Artois, announced it had agreed to take over British rival SABMiller for US$121 billion, the third-largest acquisition in history, that would make it a juggernaut brewing three times as much beer as its nearest rival.
Together, the two brewers would be behind one in three beers sold globally, according to market research group Euromonitor International.
Last month, InBev said it would sell SABMiller’s stake in leading Chinese beermaker Snow Breweries to a local firm for US$1.6 billion, in a move that appeared aimed at persuading Chinese regulators to sign off on the giant merger deal.
AB InBev sees the buyout of SABMiller as a way to counter falling beer demand in big markets by building its presence in regions where sales are rising.
The Belgian-Brazilian brewer, earlier warned that problems persisted in once-shining markets in China and Brazil putting even more pressure to finish the SABMiller deal.
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