Mega-Beer Merger Clears Hurdle: SABMiller Officially Sells Peroni, Grolsch Brands For $2.9B

Image courtesy of Rob

In order to grease the wheels for the mammoth $107 billion merger of beer giants Anheuser-Busch InBev and SABMiller, a number of Miller’s brew brands are being sold off as quickly as possible. Only a week after announcing that Miller might sell a number of premium labels — including Peroni, Grolsch, and Meantime — to Japan’s Asahi Group, the $2.9 billion deal is now official.

The Wall Street Journal reports that AB InBev and Asahi signed on the dotted line Tuesday to approve the deal, which is conditional on the completion of Miller’s merger with AB InBev.

Asahi previously made a cash offer for Peroni, Grolsch and British craft beer Meantime, as well as related businesses in Italy, the Netherlands, the U.K. and internationally.

The deal represents Asahi’s largest overseas acquisition and gives the brewer a larger international footprint capable of better taking on a combined AB InBev/SABMiller.

Regulators say that they will either approve AB InBev and SABMiller’s merger or open a longer investigation by May 24.

News that AB InBev is willing to sell off the premium brands is the company’s latest move to pave the way for regulatory approval. Of course, it’s perhaps less painful for AB InBev since the current list of sold-off brands only involves beers currently owned by SABMiller, including Miller/Coors and CR Snow.

Here’s a look at the brands that are currently being sold off to pave the way for the merger:

Brand Owner Buyer Price
Miller/Coors SABMiller Molson Coors $12 Billion
CR Snow (Chinese brand) SABMiller China Resources $1.6 Billion
Peroni, Grolsch, & Other European Brands SABMiller Asahi Group $2.9 Billion

AB InBev Accepts Near $3 Billion Asahi Offer for Peroni, Grolsch [The Wall Street Journal]