Anheuser-Busch Cos. said it will increase its ownership of Grupo Modelo, S.A. de C.V. and its subsidiaries to 37%. A-B acquired a 17% stake in Grupo Modelo, marketer of Corona and other beer brands, in 1993. A-B's new investment was valued at $550 million; its original stake was acquired for $477 million. Modelo is the exclusive importer and distributor of Budweiser and other Anheuser-Busch brands in Mexico, which A-B said are the top-selling imported beers in the country. Modelo's Corona brand, said A-B, is Mexico's top seller and the 10th largest-selling brand in the world. The Mexican beer market, it said, is the seventh largest in the world and has a favorable growth outlook.
Copyright December 1996, Crain Communications Inc.