AB InBev, the world’s largest brewing company, has exercised its right to reacquire the 49.9% minority stake in the company’s US-based metal container plants for about $3bn (R49bn). The brewing company will buy back the stake from a consortium of institutional investors led or advised by affiliates of Apollo Global Management, it said on Tuesday. It sold the stake to the group in 2020 for $3bn, Reuters reported.
“Our US-based metal container plant operations include seven facilities in six states and are a strategic component of our business, ensuring quality, cost efficiency, speed of innovation and supply security for our brands, while providing industry-leading manufacturing jobs and driving economic growth in communities around the US,” the group said. The transaction will be funded with cash on hand and is consistent with the group’s capital allocation framework that focuses on maximising long-term shareholder value, it said. The deal is expected to be earnings-per-share accretive in the first year and is anticipated to close in the first quarter of 2026.
In October, AB InBev announced a $6bn (R97.93bn) share buyback, its largest in years, which will be conducted over two years. For the third quarter ended September 2025, the group reported a 3.3% rise in underlying operating profit, which Reuters reported was the lowest quarterly profit growth since 2021 for the maker of Stella Artois and Corona as the entire industry grapples with weak demand and currency volatility. Highlights of the group’s performance in the third quarter included the continued momentum of its no-alcohol beer and Beyond Beer portfolios, which both grew revenue by 27%, while Corona continued to lead premium performance globally, increasing volume by 5.9% outside Mexico and growing by double digits in 33 markets.
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In the US, led by Michelob Ultra, which is the number one brand by volume in the industry, AB InBev continued to gain market share. For the full year ending December 2025, the group expects earnings before interest, tax, depreciation and amortisation to grow in line with its medium-term outlook of between 4% and 8%.
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