After 148 years, iconic family-run Amercian brewer Anheuser-Busch has ceased to exist after its acquisition by Belgian rival InBev was completed on 18 November.
Following shareholder approval from both companies, the new organisation, known as AB Inbev, becomes the global leader in beer and one of the world's top five consumer products companies.
The $52 billion deal, which includes $45 billion of debt financing, valued Anheuser-Busch at $70 per share in cash.
Outgoing Anheuser-Busch president and CEO, August Busch IV, originally opposed the deal but was forced to admit the benefits of the new combined company. "Together, we will achieve our goals far more effectively than either company could on its own," he said.
Busch IV, who became the fifth member of the family to run the business, now has to be content with a seat on the board of AB Inbev.
In contrast, Carlos Brito, CEO of AB InBev, was ecstatic. "We are extremely pleased to announce the closing of this historic transaction," he said. "Anheuser-Busch and InBev both have rich brewing traditions and a commitment to quality and integrity. We will succeed by celebrating and integrating both companies' strong brands, heritages and values and by incorporating the best practices of both to create opportunities for all of our stakeholders worldwide."
Anheuser-Busch becomes a wholly owned subsidiary of AB InBev and retains its current headquarters in St. Louis, MO. St. Louis will also become the North American headquarters for the combined company.
The combined company manages a portfolio of over 200 brands that includes global flagship brands Budweiser, Stella Artois and Beck's.
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