Anheuser-Busch InBev, KKR and Affinity Equity Partners announced that AB InBev has successfully completed the acquisition of Oriental Brewery, the leading brewer in South Korea. (image: rick/Flickr)
BRUSSELS & HONG KONG, April 1, 2014 (Korea Bizwire) - Anheuser-Busch InBev (“AB InBev”) (ABI) (BUD), KKR and Affinity Equity Partners (“Affinity”) today announced that AB InBev has successfully completed the acquisition of Oriental Brewery (“OB”), the leading brewer in South Korea.
The acquisition returns OB to the AB InBev portfolio after AB InBev sold the company in July 2009. OB is now the largest brewer in South Korea, an attractive beer market with a strong domestic growth outlook. Additionally, Cass has become the number one beer brand in the country, with a healthy consumer brand preference.
Carlos Brito, CEO of Anheuser-Busch InBev, said, “We are excited to welcome the Oriental Brewery team back to the AB InBev family. We look forward to re-integrating OB into our global platform, as we endeavor to strengthen our position in the Asia Pacific region and continue growing our brands and providing additional consumer choice in South Korea.”
Joseph Y. Bae, Managing Partner of KKR Asia and Kok Yew Tang, Chairman and Managing Partner of Affinity, said, “We are proud to have partnered with the Oriental Brewery team by supporting the company’s growth in bringing investment and value-add beyond capital to the partnership. We wish everyone at Oriental Brewery and AB InBev much continued success.”
Once OB has been fully re-integrated into AB InBev, the company expects to drive premium growth by maximizing the combined portfolios of leading beer brands and to achieve improved efficiencies through best-practice sharing. AB InBev also plans to leverage its global platform to export OB brands more widely.
AB InBev drew on existing liquidity to fund the acquisition.
Cass to bring 2014 FIFA World Cup BrazilTM to South Korea
As anticipation builds around the globe for the 2014 FIFA World Cup BrazilTM, the company is also announcing that Cass will become Official Beer Sponsor of the FIFA World CupTM for South Korea, joining other leading AB InBev brands who have local sponsorship rights for the FIFA World CupTM in their respective markets through AB InBev’s long-standing relationship with the tournament.
Football and sports in general are a key global consumption and celebration moment and the FIFA World CupTM offers a strong and relevant global platform to connect with passionate football fans around the world. The 2014 FIFA World Cup BrazilTM will provide Cass with a far-reaching and influential platform to leverage the excitement around this highly anticipated event.
About Anheuser-Busch InBev
Anheuser-Busch InBev is a publicly traded company (ABI) based in Leuven, Belgium, with American Depositary Receipts on the New York Stock Exchange (BUD). It is the leading global brewer and one of the world’s top five consumer products companies. Beer, the original social network, has been bringing people together for thousands of years and our portfolio of well over 200 beer brands continues to forge strong connections with consumers. This includes global brands Budweiser®, Corona® and Stella Artois®; international brands Beck’s®, Leffe®, and Hoegaarden®; and local champions Bud Light®, Skol®, Brahma®, Antarctica®, Quilmes®, Victoria®, Modelo Especial®, Michelob Ultra®, Harbin®, Sedrin®, Klinskoye®, Sibirskaya Korona®, Chernigivske®, Cass®, and Jupiler®. Anheuser-Busch InBev’s dedication to heritage and quality originates from the Den Hoorn brewery in Leuven, Belgium dating back to 1366 and the pioneering spirit of the Anheuser & Co brewery, with origins in St. Louis, USA since 1852. Geographically diversified with a balanced exposure to developed and developing markets, Anheuser-Busch InBev leverages the collective strengths of its more than 150,000 employees based in 25 countries worldwide. In 2013, AB InBev realized 43.2 billion USD revenue. The company strives to be the Best Beer Company in a Better World. For more information, please visit: www.ab-inbev.com.
About KKR
Founded in 1976 and led by Henry Kravis and George Roberts, KKR is a leading global investment firm with $94.3 billion in assets under management as of December 31, 2013. KKR manages assets through a variety of investment funds and accounts covering multiple asset classes.
With offices around the world, including seven across the Asia Pacific region, KKR seeks to create value by bringing operational expertise to its portfolio companies and through active oversight and monitoring of its investments. KKR complements its investment expertise and strengthens interactions with fund investors through its client relationships and capital markets platform. KKR & Co L.P. is publicly traded on the New York Stock Exchange (KKR), and “KKR,” as used in this release, includes its subsidiaries, their managed investment funds and accounts, and/or their affiliated investment vehicles, as appropriate. For additional information, please visit www.kkr.com.
About Affinity Equity Partners
Affinity Equity Partners is an independently owned private equity fund manager established in March 2004 following the spin-off of the UBS Capital Asia Pacific team, the private equity arm of UBS AG in the region. Affinity is an early pioneer in the development of the buyout market in Asia since 1998 and has completed 30 transactions, many of which are landmark investments in 9 countries across Asia Pacific. Affinity currently advises and manages approximately US$8 billion of funds and assets, making it one of the largest independent PE firms in the region. Affinity currently operates out of 6 offices in Asia: Hong Kong, Singapore, Seoul, Sydney, Beijing and Jakarta.
Source: Anheuser-Busch InBev & KKR & Affinity Equity Partners (via Business Wire)
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