The biggest drinks acquisitions of 2019

AB InBev sells Australian subsidiary Carlton & United Breweries to Asahi for AU$16 billion

As part of the transaction, Asahi now has the right to sell AB InBev’s portfolio of brands within Australia. AB InBev stated that the sale will help to “accelerate its expansion” into other markets within the Asia-Pacific region as well as globally.

The proceeds from the deal will be used to pay off AB InBev’s debt, although it said that its goal to reach a net debt to EBITDA (earnings before interest, taxes, depreciation, and amortisation) target ratio of below 4x by the end of 2020 is not dependent on this transaction going through.

The deal is subject to closing conditions and regulatory approval, and if given the go ahead, is expected to be completed by the first quarter of 2020.

AB InBev has also conducted a number of other high profile deals this year. In November it performed a u-turn after turning down a deal to acquire the rest of Craft Brew Alliance in August, announcing the purchase of the whole company in an estimated US$321 million deal.

This year it also acquired San Diego-based Cutwater spirits, which was founded by three former Ballast Point Brewing executives, and Cleveland-based Platform Beer Company – one of the fastest growing independent breweries in the US.

Its venture capital arm, ZX Ventures, also bought the remaining stake in consumer review site Rate Beer this year.

2 Responses to “The biggest drinks acquisitions of 2019”

  1. Sam Adams says:

    No mention of LVMH buying Whispering Angel?

  2. Josh M says:

    What about the fact that Constellation just sold off Ballast Point, which they originally purchased for $1B after just 4 years??

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