The
combined company expects to produce roughly 400 million hectoliters (or 40 billion liters) of beer volume annually. A-B InBev officials said the combination is also expected to generate about $1 billion in cost synergies.“We look forward to realizing our opportunities for growth and bringing our beers to more consumers around the world,” Carlos Brito, CEO of Anheuser-Busch InBev, said in a statement.
Last month, A-B InBev officials said Ricardo Tadeu, currently business unit president for Brazil, will be zone president for Mexico, which will become the company’s seventh zone, and CEO of Grupo Modelo.
Grupo Modelo’s headquarters will remain in Mexico City, and it will continue to have a local board, which will be appointed by A-B InBev at the next shareholders meeting.
With the deal complete, A-B InBev announced the settlement of the all-cash tender offer for the remaining shares of Grupo Modelo that it did not already own for $9.15 a share. As of May 31, about 89 percent of Grupo Modelo’s outstanding shares have been acquired in the tender offer by a subsidiary of A-B InBev. As such, the company now owns about 95 percent of Grupo Modelo’s outstanding common shares.
St. Louis-based Anheuser-Busch is part of Anheuser-Busch InBev (NYSE: BUD), which reported a first-quarter profit of $2.53 billion on revenue of $9.17 billion.
