AB InBev Buys Back $3 Billion Stake in U.S. Metal Container Facility to Boost Supply Security — Update

By Aimee Look

Beer giant Anheuser-Busch InBev agreed to repurchase a minority stake in its U.S.-based metal container plants for around $3 billion, taking back its share of the facilities to bolster supply security.

The Belgian brewer of Budweiser said Tuesday that it exercised the right to repurchase its 49.9% stake in the plants, which were held by a group of institutional investors led by Apollo Global Management.

AB InBev will use cash-on-hand to fund the repurchase, which is expected to close in the first quarter. AB InBev's metal container plant operations span seven facilities across six states, providing supply security for brands and cost efficiencies, the company said.

The world's largest brewer announced plans to sell the stake for roughly $3 billion to a consortium led by Apollo in late 2020. The transaction was aimed at helping AB InBev pay down its debt, which had swollen after the company's 2016 deal to buy SABMiller.

The repurchase of the plants will provide manufacturing jobs in the U.S. and drive economic growth, AB InBev said. The company previously said it is making a push for premium brands in the U.S. to boost efficiency and its underlying earnings in the country.

The move seems to be low risk, and will paint a clearer picture for AB InBev's growth potential, Jefferies analyst Edward Mundy wrote in a note.

Following a spell of volatility, more reliable delivery and increasing cash returns could help the brewer grow its reputation as a consistent compounder--meaning it would generate steadier results--he added.

AB InBev, which houses the Michelob Ultra and Stella Artois brands, has been wrestling with a stretch of falling sales volumes--like many of its peers. The beer industry has been grappling with changing consumer tastes and tightening wallets as the sector falls under tighter scrutiny.

The brewer launched a $6 billion share buyback in October, citing progress in reducing debt and solid results.

Write to Aimee Look at aimee.look@wsj.com

(END) Dow Jones Newswires

January 06, 2026 05:38 ET (10:38 GMT)