Who Owns Anheuser-Busch?

Anheuser-Busch traces its origins to 1852, when the Bavarian Brewery was established in St. Louis, Missouri. Eberhard Anheuser, a German-born soap manufacturer, acquired the brewery in 1860 and renamed it E. Anheuser & Co. His daughter married Adolphus Busch, a German immigrant who joined the business in 1864. The company was renamed Anheuser-Busch in 1879.

Adolphus Busch pioneered several innovations in the American brewing industry. In 1876, he and his friend Carl Conrad developed Budweiser, a light lager inspired by Bohemian brewing techniques. Budweiser was designed to appeal to a broad American audience and became the first national beer brand in the United States. Busch also pioneered the use of pasteurization to keep beer fresh during shipping, allowing national distribution before refrigeration was widespread.

The company incorporated in 1879 and grew through the late 19th and early 20th centuries. During Prohibition (1920-1933), Anheuser-Busch survived by producing non-alcoholic products including Bevo (a near-beer), baker's yeast, ice cream, and truck bodies. The company resumed beer production after Prohibition ended in 1933.

After World War II, Anheuser-Busch grew to become the largest brewer in the United States. The company expanded through acquisitions and new brand development. Budweiser became the best-selling beer in the United States by volume in the 1950s and maintained that position for decades. Bud Light, launched in 1982, eventually surpassed Budweiser in sales volume.

August Busch III served as CEO from 1974 to 2002 and was succeeded by August Busch IV, who served as CEO from 2002 until the company's acquisition in 2008. Under Busch family leadership, Anheuser-Busch acquired several regional breweries and developed brands including Michelob, Busch, and Natural Light.

In 2008, InBev, a Belgian-Brazilian brewing company, acquired Anheuser-Busch for $52 billion in an all-cash deal. The acquisition created AB InBev, the world's largest beer company. The Busch family lost control of the company, and St. Louis became the North American headquarters of the combined entity. The acquisition was controversial, with some American consumers and politicians expressing concern about a foreign company acquiring an iconic American brand.

In 2016, AB InBev acquired SABMiller for approximately $107 billion, creating a company with over 500 beer brands globally. The combined entity divested several brands including MillerCoors in the United States to satisfy antitrust regulators.

In 2023, Anheuser-Busch faced a significant backlash after Bud Light sent a promotional can to transgender influencer Dylan Mulvaney. The promotion led to a boycott by some consumers, resulting in a significant decline in Bud Light sales volume. Bud Light lost its position as the top-selling U.S. beer by volume to Modelo Especial in May 2023. Anheuser-Busch has since invested in marketing campaigns to rebuild Bud Light's market position, with mixed results.

For FY2025, AB InBev reported revenue of $59.3 billion, up 0.3% organically. North America revenue declined as Bud Light continued to lose market share, though the rate of decline slowed. Michelob ULTRA and Busch Light have been growth brands for the company in the U.S. market.