Anheuser-Busch InBev said it has exercised its right to reacquire the 49.9% minority stake in its U.S.-based metal container plants from a consortium of institutional investors led and/or advised by affiliates of Apollo Global Management for an estimated purchase price of approximately $3 billion.
The brewer said the U.S. metal container operations include seven facilities across six states and are a strategic component of its business. AB InBev said the plants help ensure quality, cost efficiency, supply security, and faster innovation for its brands, while supporting manufacturing jobs and local economic activity.
AB InBev said it will fund the repurchase with cash on hand and framed the move as consistent with its capital allocation approach focused on long-term shareholder value.
The company expects the transaction to be earnings-per-share accretive in the first year. AB InBev said it anticipates closing in the first quarter of 2026, subject to customary closing conditions.
The company had sold the minority stake in its U.S. packaging operation in 2020 to a group of investors led by Apollo to help repay debts, with the option to buy the stake back after 5 years at a predetermined price.
AB InBev, based in Leuven, Belgium, is publicly traded with listings in multiple markets and ADRs in the United States. The company reported 2024 revenue of $59.8 billion, excluding joint ventures and associates, and said it has approximately 144,000 colleagues across nearly 50 countries.
