Anheuser-Busch Companies LLC (“ABC”), a subsidiary of Anheuser-Busch InBev SA/NV (“AB InBev”), sold a minority stake in AB InBev’s U.S.-based metal container production plants for approximately $3 billion in cash.
A consortium of institutional investors, led by affiliates of Apollo Global Management Inc., acquired a 49.9 percent minority stake, while AB InBev retained a 50.1 percent stake and operational control of its plants. The parties also entered into ancillary agreements, including a long-term supply agreement to satisfy AB InBev’s metal container supply needs over the course of the relationship and a services agreement.
AB InBev is the world’s largest brewer and owns and operates more than 100 facilities, including breweries, wholesaler distribution centers, agricultural facilities and packaging plants. ABC is home to several of America’s most recognizable beer brands, including Budweiser, Bud Light and Michelob ULTRA.
The transaction is the latest in the Firm’s decades-long relationship with AB InBev and its predecessor companies, including the 2019 Hong Kong IPO of Budweiser APAC, 2018’s $10 billion public offering and 2016’s merger with SABMiller.
The S&C team advising AB InBev consisted of Frank Aquila and associates Julia Kim, Ashlyann Harrison, Tyler Drayton, Josh Park, Angela Zhu and Alessandra María Corona Henriques. Eric Wang and associates Michelle Lu, Anna Erickson and Eran Levy advised on tax matters. Nader Mousavi and associates Rachel Yu, KJ Lim and Elizabeth Levin advised on intellectual property matters. John Estes and associate Lindsey Chandler Meyer advised on finance matters.