Anheuser-Busch InBev announced today it won’t proceed with a planned IPO for its Asia Pacific subsidiary, Budweiser Brewing Company APAC Limited, on the Hong Kong Stock Exchange.
The world’s largest beer company cited “prevailing market conditions” for not going through with the IPO, which was expected to be among the biggest of 2019, commanding as much as $9.8 billion.
Anheuser-Busch InBev Acquires UK Beer Subscription Service
Beer Hawk, a U.K.-based craft beer retailer owned by Anheuser-Busch InBev’s innovation and growth arm ZX Ventures, has acquired the BeerBods beer subscription service.
In a July 5 blog post, BeerBods co-founder Matt Lane wrote that his company was linking up with Beer Hawk to “build the U.K.’s leading retailer of craft beer.”
“It has become increasingly clear that in order for BeerBods to reach its full potential, we need a partner that can help take us to the next level,” he wrote. “We’ve therefore taken the decision to join forces with Beer Hawk who have acquired our business in full.”
Beer Hawk was acquired by ZX in 2016.