AB InBev has moved to fully regain control of its US-based metal container manufacturing operations.
The Bud Light brand owner confirmed today (6 January) that it has exercised its right to reacquire the 49.9% minority stake sold in 2020 to a consortium of institutional investors led by affiliates of Apollo Global Management. The assets, which will cost in the region of US$3bn, comprise seven metal container plants across six US states and form what the group describes as a core part of its domestic supply chain.
Under the original transaction, AB InBev retained an option to buy back the stake after five years at a pre-agreed price. The purchase will be funded from cash on hand and is expected to be earnings accretive in its first year. The deal is expected to close in the first quarter of this year.
Last month, AB InBev’s US division announced a restructure of its production network in the country, confirming plans to sell one brewery and close two others this year.
