The mega beer merger is official.
AB InBev finalized its $100-billion takeover of rival SABMiller. The deal closed Monday.
This gives the newly merged company control of approximately one third of global beer production, and a 28% global market share. Moreover, AB InBev after this acquisition will control about 45% of the U.S. beer market.
Combined, the companies have about $55 billion in annual sales.
AB Inbev is best known for its Budweiser, Bud Light, Corona and Stella Artois brands. SABMiller is known for Miller, Fosters and Redd’s, among other brands. However, SABMiller was forced to give up control of MillerCoors to receive government approval for this deal, and sold its 58% percent stake in the brands to Molson Coors for $12 billion.
Both companies have explored ways in recent years to slow macro beer’s decline in America, while expanding into craft beer domestically, and growing beer markets internationally. The merger accomplishes both ends for AB InBev.
“As a truly global brewer, we will be able to achieve more together than each of us could separately,” says AB InBev CEO Carlos Brito, in a statement.