ST. LOUIS, Mo. (KMOV.com) – Anheuser-Busch InBev announced on Friday that they entered into an agreement with Grupo Modelo to acquire the remaining stake of the Mexican beer company for $20.1 billion.
According to a press release from the Anheuser-Busch website, AB InBev already owns a stake in Grupo Modelo, but was able to acquire the remaining stake for $9.15 USD per share. The acquisition will be completed through a series of steps allowing Grupo Modelo to simplify their corporate structure.
The agreement, according to reports, is a natural next step given AB InBev’s existing economic stake of more than 50% in Grupo Modelo and the successful long-term partnership between the two companies.
The combined company would lead the global beer industry with roughly 400 million hectoliters of beer volume annually and 2012 estimated revenues of USD 47 billion. Its operations would span 24 countries with enhanced opportunities for 150,000 employees across the globe.
“Grupo Modelo has been one of our most important partners for more than 20 years and we are very pleased to evolve our long and successful relationship into this combination,” said Carlos Brito, Chief Executive Officer of Anheuser-Busch InBev.
Brito added, “There is tremendous opportunity from combining two leading brand portfolios and further expanding Grupo Modelo’s brands worldwide through AB InBev’s extensive global distribution network. Our admiration for Grupo Modelo’s business and brands has only increased with time and we look forward to joining our historic and world-class breweries.”