AB InBev confirms Peroni, Grolsch, Meantime sale
Beer giant AB InBev has confirmed reports that it is intending to sell the Grolsch, Peroni and Meantime brands after it completes its takeover of rival SABMiller.
The Budweiser and Stella Artois brewer was forced into confirming the sell-off after media reports this week quoted sources claiming AB InBev had already briefed its legal advisers on the sales of Grolsch and Peroni.
UK-based Meantime Brewery is also being put up for sale, AB InBev announced in a statement.
The three brands up for sale are owned by SABMiller, which is in the process of being incorporated into AB InBev following the formal announcement of a £71 billion takeover in November.
The potential sell-offs are conditional on this takeover going ahead.
“AB InBev will contact potential purchasers in the coming weeks to assess their interest in the Peroni and Grolsch brand families and their associated businesses in Italy, the Netherlands and the UK”, AB InBev said.
Meantime Brewery, which was only purchased by SABMiller in May this year, is also being offered for sale, “given the brand’s premium positioning”, it said.
AB InBev is making the sales in an attempt to receive regulatory approval for its record-breaking takeover of SABMiller. Consent needs to be received from competition authorities in its major markets before the merger can be completed.
Next week, AB InBev CEO Carlos Brito is being called as a witness to a US Senate Judiciary Committee hearing on the potential impact of the takeover on the beer market.
“Like the previously announced disposal of the Miller business to Molson Coors,” which was also revealed in November, “these steps reflect AB InBev’s pro-active approach to addressing potential regulatory concerns,” the company said.