ST. LOUIS – Anheuser-Busch Cos. (BUD), which brews Budweiser and Bud Light, said Friday it bought the Rolling Rock beer brand from InBev USA, the U.S. subsidiary of Belgian-Brazilian brewer InBev SA, for $82 million.
Under the agreement announced by the two companies, Anheuser-Busch will use the brand to expand its portfolio of products and begin brewing Rolling Rock and Rock Green Light in August.
Meanwhile, InBev said it will sell its brewery in Latrobe, Pa., to focus its U.S. business on imported beers and is currently in discussion with potential buyers.
"The decision to sell the Rolling Rock brands was based on InBev's strategic approach to the U.S. market, which is to focus on the high-growth import brands in our portfolio," said Doug Corbett, president of InBev USA.
InBev USA, which is headquartered in Norwalk, Conn., imports beer including Stella Artois and Beck's.
Shares of Anheuser-Busch gained 29 cents to $46.48 on the New York Stock Exchange.