Anheuser-Busch InBev will reacquire a 49.9% minority stake in its U.S.-based metal container plants from a consortium of institutional investors for $3 billion.

AB InBev’s U.S. metal container plant operations include seven facilities across six states. The company says the plants are a strategic component of its business, ensuring quality, cost efficiency, speed of innovation and supply security. Beverage manufacturers face high aluminum prices in light of tariffs.

AB InBev’s exercise of the repurchase option will be funded with cash-on-hand. The transaction is expected to be EPS accretive in year 1. Subject to customary closing conditions, the transaction is anticipated to close in the first quarter of 2026.

AB InBev sold its minority stake to the investor consortium, led by Apollo Global Management, Inc., for $3 billion in 2020 to repay debt with a five-year buy-back option. The company retained operational control of the plants during the five-year period.