AB InBev to sell Carlton & United Breweries to Asahi

Belgian beer giant Anheuser-Busch InBev has agreed to sell its Australian subsidiary Carlton & United Breweries to Japanese group Asahi for US $11.3 billion.

Owner of Italian brand Peroni, Asahi will now also acquire the Carlton, Foster’s and Victoria Bitter brands, which account for almost half of the Australian market.

According to a statement released by AB InBev, which is looking to sell some of its other businesses in the Asian region, the proceeds will be used to pay down its debt which now stands at more than $100 billion (double its annual revenue).

Under the terms of the agreement, which is expected to close by the first quarter of 2020, AB InBev will grant Asahi rights to commercialize the portfolio of AB InBev’s global and international brands in Australia.

Image credits: Victoria Bitter