AB InBev gulps down Wetherspoons' craft beer favourite US Devils Backbone Brewing as buying bender rolls on

 
Billy Bambrough
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Anheuser-Busch Plans To Reject InBev Takeover Bid
AB InBev has been buying up craft beer brands due to their rapidly rising market share (Source: Getty)

Anheuser-Busch InBev, the world's largest brewer more commonly known as AB InBev, has said it plans to swallow Wetherspoons' craft beer supplier Devils Backbone Brewing for an undisclosed price.

The deal is expected to go through in the second quarter.

The move is the latest a raft of forays into the quickly growing premium-priced craft beer market.

AB InBev, brewer of globally recognised brands Budweiser, Stella Artois and Corona, has downed craft beer makers Elysian, Golden Road, Four Peaks and Breckenridge in recent months.

These pale in comparison to AB InBev’s £71bn takeover of SABMiller, the biggest ever British corporate merger, announced in November last year and now widely referred to as megabrew.

Read more: How companies can avoid M&A failures

AB InBev revealed last month it's embarking on a jumbo euro bond deal to pave the way for the megabrew merger to complete.

It's planning to issue a six-tranche, euro-dominated bond deal with maturities ranging from four to 20 years in length, with each tranche expected to be at least $1bn (£709m) in size.

Its latest target, the Virginia-based Devils Backbone, is best known for its Vienna Lager, but it also makes Eight Point IPA and Schwartz Bier.

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