Budweiser Brewer in 'Discussions' with Corona Maker Grupo Modelo

June 25, 2012
Anheuser-Busch InBev, which already owns a 50% stake in the Mexican firm, calls speculation 'premature.'

The world's top brewer, Anheuser-Busch InBev (IW 1000/106), maker of Budweiser, Beck's and Stella Artois, said Monday it is in "discussions" with Mexico's Grupo Modelo, the maker of Corona.

"There have been discussions between the company and Grupo Modelo regarding a possible transaction to expand its current relationship," AB InBev said in a statement after U.S. media reports said the company was set to take control of the Mexican firm in a $12-billion deal (9.6 billion euros).

InBev already owns a 50% stake in Grupo Modelo (IW 1000/511).

"These discussions may or may not lead to a transaction and any speculation on terms and conditions is therefore premature," the statement added.

AB InBev underlined a "long history of partnership" between the two companies and a "great admiration for the Modelo business and its brands."

The Wall Street Journal said a deal would give AB InBev full control of Corona, one of the world's biggest-selling beer brands and the No. 1 imported lager in the United States.

In their last accounts posted at the end of April, AB InBev reported a 75% jump in first-quarter net profits to $1.69 billion and a 6.2% rise in turnover to $9.33 billion.

Copyright Agence France-Presse, 2012

Popular Sponsored Recommendations

Food and Beverage 2024 Trends and Outlook for North America

Oct. 29, 2023
Ready to hear what 200 of your peers said are the top challenges and opportunities in 2024? Don’t fall behind. Uncover actionable insights to better prepare for 2024 in this whitepaper...

Shifting Your Business from Products to Service-Based Business Models: Generating Predictable Revenues

Oct. 27, 2023
Executive summary on a recent IndustryWeek-hosted webinar sponsored by SAP

Legacy Phone Lines Are Draining Your Profits

Oct. 30, 2023
Copper wire phone line expenses that support emergency devices could be costing your company millions of dollars in wasteful overhead expenses. Rates have been skyrocketing while...

Process Mining For Dummies

Nov. 19, 2023
Here it is. Everything you need to know about process mining in a single book, written in the easy-to-understand, hard-to-forget style that ‘For Dummies’ manages so effortlessly...

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!