Anheuser-Busch InBev, the world’s largest beer producer, said Tuesday it plans to repurchase a minority interest in its U.S. beverage can manufacturing operations in a deal valued at roughly $3 billion.
The Belgian-based brewer said it will reacquire a 49.9% stake in the facilities from a group of institutional investors led by asset manager Apollo. The transaction is expected to close by March, subject to standard closing conditions.
AB InBev sold the minority stake in December 2020 as part of a broader effort to reduce debt, while retaining operational control of the plants. As part of that transaction, the company secured the right to buy back the stake five years later at a pre-agreed price.
The U.S. can-manufacturing business includes seven facilities across six states and supplies metal containers for many of the company’s brands, including Budweiser and Corona.
The brewer said the plants play a key role in its supply chain by supporting product quality, manufacturing efficiency and innovation, while also providing skilled jobs and contributing to local economies.
AB InBev said it plans to finance the buyback using existing cash and expects the transaction to be immediately beneficial for shareholders once completed.
The company operates in more than 150 countries and manages a portfolio of over 600 beer brands. Its shares are listed in Brussels and also trade in New York, South Africa and Mexico.
Apollo Global Management did not immediately comment on the transaction, and counsel details for the parties were not disclosed.
