ST. LOUIS (KMOX) - It’s a done deal; Anheuser-Busch InBev has gobbled-up another major beer company.
The brewer bought half of the Mexican brewer Grupo Modelo it does not already own for $20 billion. The deal creates a company with combined annual revenue of $47 billion with operations in 24 countries and 150,000 employees.
“There is tremendous opportunity from combining two leading brand portfolios and further expanding Grupo Modelo’s brands worldwide,” said Carlos Brito, chief executive of Anheuser-Busch InBev.
The Grupo Modelo deal is the Anheuser-Busch InBev’s second-biggest takeover, trailing only the 2008 transformational acquisition of Anheuser-Busch for $52 billion.
It also represents one of the largest transactions announced so far this year at a time when takeover activity has slowed, as concern about the global economy has sapped corporate confidence.