Japanese Beer Company Asahi Buy Carlton & United Breweries In Huge Multi-Billion Deal
Japanese beer company Asahi has agreed to a takeover deal with Anheuser-Busch InBev for Carlton & United Breweries.
The $16 billion deal was announced on the Tokyo Stock Exchange on Friday afternoon.
The Australian-based Carlton United Breweries is famous for producing iconic local brands such as VB, Carlton Draught and Pure Blonde.
Carlton & United Breweries (CUB) is based in Melbourne and was acquired by the Belgium company Anheuser-Busch InBev (AB InBev) in 20186.
CUB confirmed the takeover in a statement and said the opportunity allows Asahi to "commercialise the portfolio of AB InBev’s global and international brands in Australia."
The sale of CUB will help AB InBev to "accelerate" its expansion into other fast-growing markets in the Asia Pacific Accreditation Cooperation (APAC) and globally.
“We continue to see great potential for our business in APAC and the region remains a growth engine within our company," said Carlos Brito, Chief Executive Officer of AB InBev.
AB InBev said the funds raised from the mega-money sale will be used to "pay down debt", but stressed the business is not relying on this sale to stay afloat.
The company, which operates in nearly 50 countries, reported its revenue for 2018 was $77.3 billion.
The sale to Asahi is expected to completed in the first quarter of 2020.