AB InBev Reaches Purchase Agreement with SABMiller
On October 13, 2015 At 10:30 am
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LONDON, UK – In what is set to be one of the largest corporate mergers in history, multinational brewing company Anheuser-Busch InBev has reached an agreement in principle to its latest takeover offer for rival SABMiller.
If finalized and approved by regulators, the £69 billion ($137 billion Canadian) deal will create a combined company that will control just over 30% of beer sales around the world.
In Canada, AB InBev owns Labatt Breweries and its subsidiaries including Oland Brewery – as of last week – Mill Street Brewery, and also imports and represents its international brands including Budweiser and Stella Artois.
Until earlier this year, SABMiller brands – including Miller High Life, Grolsch, Foster’s and Peroni – were distributed in Canada by Molson Coors, but the dissolution of that long-standing partnership led to the creation of SABMiller Canada to handle distribution and promotion of its brands. It’s unknown at this time what impact this merger may have on that arrangement.
For more details on the proposed deal, see the full Canadian Press article on the CBC News website.