Anheuser-Busch InBev (InBev) will unload its Australian Carlton & United Breweries unit to Japanese beer giant Asahi in a deal worth US$11.3 billion. The deal was announced on Friday, July 19, the day AB InBev was originally scheduled to list its Asia business on the Hong Kong Stock Exchange in an IPO that could have raised as much as US$9.8 billion. The IP was cancelled due to market conditions, according to the company.
The brewer has struggled particularly in the US, where its flagship Budweiser and Bud Light brands have bled market share to rivals. In response, InBev has snapped up craft brewers, launched limited-editions of Bud and new flavors for Bud Light, and put more marketing behind its low-carb brew Michelob Ultra, but the moves haven’t fixed the problem according to Beer Marketer’s Insights, the Wall Street Journal reported.
Under the terms of the deal, which is expected to close by the first quarter of 2020, InBev will grant Asahi the rights to commercialize the portfolio of InBev’s global and international brands in Australia.
Full Content: The Wall Street Journal