NEW YORK (AP) – Anheuser-Busch InBev, the world’s largest beer maker, announced Wednesday that it has reached an agreement with the Justice Department that clears the way for U.S. approval of its acquisition of SABMiller.
AB InBev, the maker of Budweiser and Bud Light, will sell SABMiller’s entire U.S. business to Molson Coors as previously announced as part of the agreement. That means Budweiser would continue to compete with Miller beer in the United States.
The merger with the maker of Miller Genuine Draft, a deal valued at about $107 billion, had raised concerns that a single company would control too much of the beer market. The combined company would have about 31 percent of the global beer market, according to Beer Business Daily.
AB InBev also owns Corona, Stella Artois and Beck’s. Earlier this year, it acquired craft beer maker Breckenridge Brewery, following its purchase of craft brewers Goose Island and 10 Barrel Brewing Co., as the popularity of craft beers has grown.
U.S. lawmakers and independent breweries had expressed concern that a combined AB InBev and SABMiller would have too much influence over the distribution system, with the ability to squeeze out smaller rivals.