SeaWorld To Be Sold To The Blackstone Group
Wednesday, October 7, 2009
SAN DIEGO Anheuser-Busch InBev announced today it will sell its 10 theme parks, including San Diego's SeaWorld, to The Blackstone Group for $2.7 billion.
Anheuser-Busch InBev, through its subsidiary Busch Entertainment Corp., owns three SeaWorld Parks in Orlando, San Antonio and San Diego and two Busch Gardens parks in Tampa and Williamsburg, Va. It also operates five other theme and water parks in Florida, Virginia and Pennsylvania.
"Busch Entertainment Corp. is a high performing asset with a world- class management team, but not a core business for Anheuser-Busch InBev," said Carlos Brito, the company's chief executive officer.
"We are pleased to have reached an agreement with a buyer who understands the industry and has a strategic vision for the business," he said. "The sale of BEC represents another important milestone in our commitment to de-leverage the company and will also allow us to continue to focus on our core brewing business."
Anheuser-Busch InBev, which is based in Belgium, manages a portfolio of nearly 300 brands. It's most famous beers include Budweiser, Stella Artois and Beck's.
The Blackstone Group is a private equity firm based in New York.