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InBev's Brazil unit buys Canadian beer, cider brands for $350 mln

Published 2015-11-10, 05:54 p/m
© Reuters. InBev's Brazil unit buys Canadian beer, cider brands for $350 mln
ABI
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ABEV
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RIO DE JANEIRO, Nov 10 (Reuters) - Ambev SA ABEV3.SA , the
Brazilian unit of Belgium's Anheuser-Busch InBev SA ABI.BR ,
said on Tuesday it agreed to buy the Canadian rights to beer and
cider brands owned by Canada's Mark Anthony Group for $350
million.
Among the brands purchased by Ambev from the Mark Anthony
Group are Palm Bay, Mike's Hard Lemonade and Okanagan Cider,
Ambev said in a Brazilian securities filing. The deal also
includes the purchase of British Colombia's Turning Point
Brewery, which produces the Stanley Park beer brand.
The acquisitions will be managed by Labatt Breweries of
Canada, an Ambev subsidiary. Ambev's parent AB InBev is the
world's largest brewer.
The deal is expected to close in the coming months, the
statement said.
Mark Anthony, founded in 1972, produces and distributes wine
and specialty beers. It is also the world's fourth-largest maker
of "near beer" a type of low or alcohol-free beer.

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