Home Tags Posts tagged with "budweiser"

budweiser

0

Budweiser maker, Anheuser-Busch InBev, has agreed the terms of its $107 billion takeover of rival SABMiller, in a deal that will combine the world’s two largest beer makers.

AB InBev will pay £44 ($70) for each share in SABMiller, the price it offered on October 13.

To clear the way for the takeover, SABMiller is to sell its 58% stake in its US joint venture MillerCoors.

SABMiller is selling the stake to its main partner in the business, Molson Coors, for $12 billion.AB InBev and SABMiller Agree $107 Billion Merger Terms

The newly-created company will produce about 30% of the world’s beer.

AB InBev’s brands include Stella Artois and Corona, while SABMiller produces Peroni and Grolsch.

“Our combination with SABMiller is about creating the first truly global beer company and bringing more choices to beer drinkers in markets outside of the US,” said AB InBev CEO Carlos Brito.

SABMiller has a workforce of close to 70,000 people in more than 80 countries, and global annual sales of more than $26 billion.

AB InBev has a workforce of 155,000 and global revenues of more than $47 billion.

The two companies are predicting cost savings of at least $1.4 billion a year.

Beer drinkers in the US have filed a $5 million lawsuit accusing Anheuser-Busch of watering down its beer.

The lawsuits, filed in Pennsylvania, California and other states, claim consumers have been cheated out of the alcohol content stated on beer labels.

The suit involves 10 Anheuser-Busch beers including Budweiser and Michelob.

Anheuser-Busch InBev have called the claims “completely false”, and said in a statement “our beers are in full compliance with labelling laws”.

The lawsuits are based on information from former employees at breweries owned by the multinational.

“Our information comes from former employees at Anheuser-Busch, who have informed us that, as a matter of corporate practice, all of their products mentioned [in the lawsuit] are watered down,” lead lawyer Josh Boxer said.

Beer drinkers in the US have filed a $5 million lawsuit accusing Anheuser-Busch of watering down its beer

Beer drinkers in the US have filed a $5 million lawsuit accusing Anheuser-Busch of watering down its beer

The complaint claimed that “Anheuser-Busch employs some of most sophisticated process control technology in the world to precisely monitor the alcohol content at the final stages of production, and then adds additional water to produce beers with significantly lower alcohol contents than is represented on the labels”.

The lawsuit alleged that the practice began after the American Anheuser-Busch merged with the Belgian-Brazilian InBev in 2008, to form the world’s largest alcohol producer.

“Following the merger, [Anheuser-Busch] vigorously accelerated the deceptive practices, sacrificing the quality products once produced by Anheuser-Busch in order to reduce costs,” the lawsuit said.

Peter Kraemer, vice president of brewing and supply at Anheuser-Busch said in a statement, “We proudly adhere to the highest standards in brewing our beer.”