FDBusiness.com

Asahi Group of Japan has made a €2.55 billion binding offer to AB InBev to acquire SABMiller’s Peroni, Grolsch and Meantime (PGM) brands and their associated businesses in Italy, the Netherlands and the UK.

The proposed sale is in line with AB InBev’s commitment to proactively address potential regulatory considerations relating to its recommended offer to acquire SABMiller. The Asahi binding offer, if accepted by AB InBev following required employee consultation, is conditional on completion of the AB InBev acquisition of SABMiller.  This is currently expected to occur in the second half of 2016.

The brands and operations of Royal Dutch Grolsch, Birra Peroni, Miller Brands UK, the Meantime Brewing Company, and SABMiller’s sales and marketing office in France are included in the scope of the binding offer. The global rights to the Grolsch, Peroni and Meantime brands are also be included in the scope of the binding offer, with the exception of the rights in the United States for the Peroni and Grolsch brands.

Alan Clark, chief executive of SABMiller, says: “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.”

The acquisition will allow Asahi to expand its growth platform in Europe and to become a global player with a distinct position, while increasing the presence of its flagship Asahi Super Dry brand.