Anheuser-Busch InBev (AB InBev), Leuven, Belgium, will acquire the remaining stake in Grupo Modelo, Mexico City, for $20.1 billion. The combined company would lead the global beer industry with roughly 400 million hectoliters of beer volume annually and 2012 estimated revenues of $47 billion, AB InBev noted in a statement. Tangentially, Constellation Brands Inc., Victor, N.Y., which in a joint venture with Grupo Modelo currently owns 50 percent of Crown Imports LLC, Chicago, signed an agreement with AB InBev to purchase the remaining 50 percent interest in Crown for $1.85 billion.
With more than 4,500 attendees from 35 countries, the Craft Brewers Conference & BrewExpo America, hosted by the Brewers Association, Boulder, Colo., May 2-5 in San Diego, was a testament to the growth in the industry. Setting the tone for the event, Brewers Association President Charlie Papazian addressed any doubts about the industry’s potential, saying, “We are not in a bubble, we are knee-deep in foam — and the foam is still rising.”
To help fans plan their get-togethers for this month’s National Collegiate Athletic Association’s March Madness, Minneapolis-based Betty Crocker partnered with actor and TV personality Mario Lopez to create 16 beer-infused party food ideas for its second annual “Betty Bracket” recipe showdown.