The battle for ownership of Peroni is nearly over with the news that Anheuser-Busch InBev has received a binding offer of £1.97bn for the conditional sale of Peroni, Grolsch to Asahi.
The brands went up for sale following AB InBev proposed acquisition of SABMiller. AB InBev said, “In line with its commitment to proactively address potential regulatory considerations, AB InBev”has been exploring the sale of certain of SABMiller European premium brands and their related businesses (excluding certain US rights) and is pleased to confirm that it has received a binding offer from Asahi Group Holdings, Ltd. (“Asahi”) to acquire them.”
The Asahi offer, is of course, dependent on the completion of the AB InBev acquisition of SABMiller which is expected to occur in the second half of 2016.
The deal will see Asahi acquire SABMiller’s Peroni, Grolsch and Meantime (PGM) brands and their associated businesses in Italy, the Netherlands and the UK.
The brands and operations of Royal Dutch Grolsch NV, Birra Peroni, Miller Brands UK, the Meantime Brewing Company, and SABMiller’s sales and marketing office in France are included as are the global rights to the Grolsch, Peroni and Meantime brands with the exception of the rights in the United States for the Peroni and Grolsch brands.
Alan Clark, Chief Executive of SABMiller said, “SABMiller has grown Peroni and Grolsch into world-renowned premium brands, and we are confident that, along with fast-growing modern craft brewer Meantime, they will continue to thrive and develop. These beers will continue to be part of SABMiller and sold and managed by us until the change of control.”
Carlos Brito, Chief Executive Officer of AB InBev, said, “We are pleased to have received this binding offer from Asahi on the Peroni, Grolsch and Meantime brands and businesses – iconic beer brands with longstanding heritage and leading positions in core markets.”
In connection with this transaction, Lazard and Deutsche Bank AG are acting as financial advisors to AB InBev. Freshfields Bruckhaus Deringer LLP is acting as legal counsel to AB InBev.