A-B InBev to sell Busch Entertainment Corp

09 October, 2009

Anheuser-Busch InBev is to sell its entertainment business, Busch Entertainment Corporation, to The Blackstone Group.

A-B InBev will sell the business for up to USD 2.7 billion. The purchase price will be comprised of a cash payment on closing of USD 2.3 billion and a right to participate in Blackstone’s return on its initial investment capped at USD 400 million.

Under the terms of the agreement, Blackstone will acquire Anheuser-Busch InBev’s wholly owned subsidiary, Busch Entertainment Corporation (BEC), the second largest entertainment park operator in the United States with approximately 25 million annual visitors. BEC operates 10 entertainment parks throughout the United States

including three SeaWorld parks in Orlando, Florida, San Antonio, Texas, and San Diego, California, two Busch Gardens parks in Tampa, Florida and Williamsburg, Virginia, and other family entertainment attractions in Orlando, Florida, Tampa, Florida, Williamsburg, Virginia, and Langhorne, Pennsylvania.

Carlos Brito, chief executive officer of Anheuser-Busch InBev, said: “Busch Entertainment Corporation is a high performing asset with a world-class management team, but not a core business for Anheuser-Busch InBev. We are pleased to have reached an agreement with a buyer who understands the industry and has a strategic vision for the business. The sale of BEC represents another important milestone in our commitment to de-leverage the company and will also allow us to continue to focus on our core brewing business.”





Comment

Dominic Roskrow

The serious business of bourbon

This is most odd. I’m standing with two American gentlemen in the corner of a very swish steak bar staring at a surreal painting of what we’re being told is a ship exploding as it sails towards a lighthouse. I think.

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