By Josh Brown
The sale of Anheuser-Busch Cos. Inc. to Belgian brewer InBev likely means that its Williamsburg-area theme parks - Busch Gardens and Water Country USA - will be sold.
Anheuser-Busch announced Monday it had accepted a $52 billion takeover bid from the Belgian brewer. To help finance the deal, InBev said it would sell Anheuser's non core assets.
Though Busch Gardens parent Busch Entertainment Corp. was not mentioned by name, it's clearly not a beer-related asset. Anheuser owns 10 theme parks across the country, including three Sea Worlds, another Busch Gardens in Tampa, Fla., and Sesame Place in Langhorne, Pa.
The status of Kingsmill Resort & Spa, the golf and residential development in James City County, is less clear. The brewer hosts the Michelob Ultra Open LPGA tournament at the resort.
InBev did say it plans to keep all of Anheuser-Busch's 12 breweries, among them the one in the Williamsburg area. That site employs about 870 people and produced 297.6 million gallons of beer and malt liquor in 2006, according to the company Web site.
Jack Russo, an analyst with Edward Jones in St. Louis, said InBev would likely sell the theme parks after the transaction is completed in December.
"This transaction is about beer," he said. "The theme parks are definitely not beer."
Russo said other theme park operators, such as Six Flags Theme Parks Inc. or Cedar Fair Entertainment Co., which owns Kings Dominion near Richmond, might be potential suitors for Busch Gardens.
"It just depends on where they're at as far as their balance sheets are concerned," he said. "And let's be honest; it's not really a buyer's market."
The possibility has sparked concerns among community and business leaders in the Williamsburg area over the future of the theme parks and other properties in the area.
Kate Hoving, a spokeswoman for Greater Williamsburg Chamber & Tourism Alliance, said the sale was a surprise.
"Anheuser-Busch has been pivotal for our community," she said. "They're one of the top employers in the area. These are our friends and colleagues, and we're concerned about what will happen to them."
James City County Administrator Sandy Wanner said he hopes InBev will ask local governments for input on future owners of the properties.
"We are obviously focused on what this means for the workers," Wanner said. "If it's sold to someone who runs theme parks, the work force will pretty much stabilize. But would the new ownership subscribe to the level of quality and community partnership that Anheuser-Busch has?"
Josh Brown, (757) 446-2318, josh.brown@pilotonline.com
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When are we going to start taking notice???
Busch is now in foreign hands. Ford is on the brink of bankruptcy soon to be followed by GM. I’ve read that there is not one farm tractor produced in the United States less than 100hp. Now consider that the recent decision by the government to take over Freddie Mack and Fannie Mae is not intended to help us but, to bail out the Chinese and will cost us trillions. We are in the stupidest war in our history. I could go on and on.
We are in trouble folks and it is our fault. How scared of the future do we need to be before we elevate and support those leaders who can make us understand and accept the sacrifices and changes necessary to pull this country out of the crapper? With McCain and Obama as presidential candidates, it is clearly not now.
Curtis J
Almost nothing is American made, even the junk you think is.
That's not how it works
The change of ownership will not be closing anything. The whole point of the buyout was for InBev to add their brands to Busch's US brewing and distribution and Busch to add their brands to InBev's Asian facilities.
another one bites the dust
it is a shame that another american company is selling out. i do not like beer never have, but i liked the ideal that it was made here and kept a lot of jobs here. with this take over there are going to be lay offs and downsizing and all those people at BG/Water Country are going to be out of work also. I think AB has done this to line the CEO pockets and they forgot the everyday worker who got them where they are today. Shame on you AB for selling out.
I just hope Busch Gardens
I just hope Busch Gardens does not become ghetto fabulous like Kings Dominion has.
sellout
well why the hell not,we have been told we cant make radios,tv's,automobiles, now beer,so sell us out.who is going to be left working to buy any imported goods.all in the name of money,you sellout politicians and,ceo's.when are we going to stand up as Americans and consumers to these people.if they sell out boycott AB, run that company bankrupt.get rid of these double faced politicians,put these crooked corporate heads out of business or in jail where they should be.who is to blame for the housing mess look at another bailout and what it is going cost the tax payers.i am sick and tired of hearing company's like this selling us out in the name of money.we need to wipe Washington clean of the crooks and start with new blood,we have the worst choice for presentational nominees in history,you got two good ol boys one is business as usual,the other just tell you what you want to hear to get in office like they all do.fix their buts vote for anybody but Obama or McCaine,now that would be CHANGE i can believe in.
Let's all hope
Let's all hope whomever buys the theme parks keeps them to the high standards AB has.
I guess all those people around the world are idiots
The usual cliche self hater bud sucks post. I guess all those people that pay a premium to get Budweiser around the world are a bunch of idiots?
Submitted by Curtis J on
Submitted by Curtis J on Mon, 07/14/2008 at 11:19 pm.
A little more of America is sold to foreign buyers. With this deal I'll have to give up drinking beer or find another American brand.
OK, stop blogging from your american-made computer, get in your american made car that's made from american parts and fueled with american gas, go to a 100% american owned store and buy american beer made from american grown ingredients in american made cans delivered in american made trucks.
Good luck.
BTW, I'm sure that the AMERICAN AB employees that are keeping their jobs in this deal will be glad to know that you won't support them. Maybe they'll all lose their jobs. That'll teach 'em.
jmo
Bud is crap beer anyway!
Who cares? AB is all about marketing, not making good beer. I have not drank that ungodly swill for decades, since they started cutting it with rice. Give me a good Stella Artois anytime! Real Budweiser is made in the Czech Republic anyhow.
USA
A little more of America is sold to foreign buyers. With this deal I'll have to give up drinking beer or find another American brand. I'm waiting for the Chinese to buy Disney Land.