Anheuser-Busch InBev, the Belgian maker of Budweiser and Stella Artois, has agreed a merger with rival London-based firm SABMiller.
The deal, which is worth £71 billion, will create a new global drinks giant which will produce approximately 30% of the world’s beer.
Commenting on today's announcement, Carlos Brito, CEO of AB InBev said: "We are excited about our agreement on the terms of a recommended acquisition of SABMiller to build the world's first truly global brewer. We believe this combination will generate significant growth opportunities and create enhanced value to the benefit of all stakeholders. By pooling our resources, we would build one of the world's leading consumer products companies, benefitting from the experience, commitment and drive of our combined global talent base. Our joint portfolio of complementary global and local brands would provide more choices for beer drinkers in new and existing markets around the world.
Alan Clark, CEO of SABMiller added: "SABMiller grew from small beginnings, brewing quality cold beer for thirsty miners in the dusty streets of 19th century Johannesburg. More than 120 years later, generations of incredibly talented people have built a highly-admired, high-performing global beer and beverage business.
“We've always nurtured the art of brewing, which has given us a stable of locally-loved and internationally-famous beers. What's also made us special is our deep understanding of navigating different local markets, catering for local tastes and helping build the communities around us.”
