{"id":1943100,"date":"2023-06-02T17:30:10","date_gmt":"2023-06-02T21:30:10","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bud-light-parent-company-sells-off-beer-brand-as-losses-mount\/"},"modified":"2023-06-02T17:32:43","modified_gmt":"2023-06-02T21:32:43","slug":"bud-light-parent-company-sells-off-beer-brand-as-losses-mount","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bud-light-parent-company-sells-off-beer-brand-as-losses-mount\/","title":{"rendered":"Bud Light&#8217;s parent company sells beer brand due to increasing losses."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbud-light-parent-company-sells-off-beer-brand-as-losses-mount%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1943100&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>Bud Light Parent Company Sells Off Beer Brand as Losses Mount<\/h2>\n<p>AB InBev, the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/youtube-suspends-demonetizes-one-america-news-network\/\" title=\"YouTube Suspends, Demonetizes One America News Network\">parent company<\/a> of Bud Light and other beers, has sold one of its brands back to its original founders as the company grapples with its decision to partner with trans activist Dylan Mulvaney. That decision has cost the global brewer billions of dollars in value over the past two months.<\/p>\n<p>According to <a href=\"https:\/\/www.bizjournals.com\/charlotte\/news\/2023\/06\/01\/cbj-buzz-appalachian-mountain-brewery-amb.html\" target=\"_blank\" rel=\"noopener\">The Charlotte Business Journal<\/a>, the company offloaded a brand it purchased as part of a portfolio of <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/big-tech-companies-encourage-their-young-employees-to-do-more-than-15-minutes-of-real-actual-work\/\" title=\"Big Tech Companies Encourage Their Young Employees To Do More Than 15 Minutes of Real, Actual Work\">craft beers<\/a> three years ago. The co-founders of North Carolina\u2019s Appalachian Mountain Brewery and Cidery in Boone bought their company back this week.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">An independent streak \u2014 a key element of Appalachian Mountain Brewery\u2019s founding in 2011 \u2014 has inspired its co-founders to take the rare step of buying their freedom from global conglomerate Anheuser-Busch. <a href=\"https:\/\/t.co\/VOvIe7BTen\">https:\/\/t.co\/VOvIe7BTen<\/a><\/p>\n<p>\u2014 Richard Craver (@rcraverWSJ) <a href=\"https:\/\/twitter.com\/rcraverWSJ\/status\/1661394977069453312?\">May 24, 2023<\/a><\/p>\n<\/blockquote>\n<p>The reason for the decision to offload the brand by AB InBev was not announced. However, the company&#8217;s partnership with Mulvaney had cost the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bud-light-parent-company-sells-off-beer-brand-as-losses-mount\/\" title=\"Bud Light's parent company sells beer brand due to increasing losses.\">global beer conglomerate roughly  billion<\/a> in market value as of Wednesday, according to <a href=\"https:\/\/www.foxbusiness.com\/markets\/bud-light-parent-anheuser-busch-sees-27-billion-gone-shares-near-bear-market\" target=\"_blank\" rel=\"noopener\">Fox Business<\/a>.<\/p>\n<h3>Back in the Hands of Its Founders<\/h3>\n<p>Nathan Kelischek and Chris Zieber, who are cousins, founded the brewery in 2011. In 2018, AMB was sold to the Portland, Oregon-based Craft Brew Alliance. AB InBev, which had a stake in the Craft Brew Alliance, acquired the remainder of it for $220 million in 2020, Forbes reported. As of this week, AMB was back in the hands of its founders.<\/p>\n<p>Kelischek and Zieber announced the acquisition of the company they founded in a joint statement on the AMB <a href=\"https:\/\/www.amb.beer\/purchaseannouncement\" target=\"_blank\" rel=\"noopener\">website<\/a>.<\/p>\n<p><strong>\u201cWe\u2019re grateful to have spent the last two years as active founders within A-B\u2019s craft portfolio and want to thank the people at A-B, including our fellow craft brewery founders, for the support, collaboration and friendship that we\u2019ve enjoyed during our time together,\u201d<\/strong> the cousins said.<\/p>\n<p>The duo added: <strong>\u201cWe will be shifting our focus immediately on growing our local team, opening our new taproom in Mills River, NC, and continuing our investment in sustainability and philanthropy efforts that make a difference in our North Carolina communities. This all hinges on producing the highest quality products and delivering a unique experience for our customers.\u201d<\/strong><\/p>\n<p>AMB says that under its original leadership, it will \u201ccontinue to brew award-winning, high-quality beers and ciders\u201d with a focus on \u201claidback Southern hospitality.\u201d<\/p>\n<p>Since April, when the company\u2019s partnership with Mulvaney was announced, the company\u2019s share price has dropped almost 20 percent. The post <a rel=\"nofollow\" href=\"https:\/\/www.westernjournal.com\/bud-light-parent-company-sells-off-beer-brand-losses-mount\/\">Bud Light Parent Company Sells Off Beer Brand as Losses Mount<\/a> appeared first on <a rel=\"nofollow\" href=\"https:\/\/www.westernjournal.com\">The Western Journal<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>reports, AB InBev has sold a brand back to its original founders amid backlash over its partnership with trans activist Dylan Mulvaney, which has resulted in billions of dollars in lost value for the company. The parent company owns Bud Light and other popular beer brands.<\/p>\n","protected":false},"author":2006,"featured_media":1943101,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[548],"tags":[16425,7710,18499,5425,7321,8449,4342,10328,9187],"class_list":["post-1943100","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-conservative-news-daily","tag-beer","tag-brand","tag-bud","tag-company","tag-increasing","tag-lights","tag-losses","tag-parent","tag-sells"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1943100","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/2006"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1943100"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1943100\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1943101"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1943100"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1943100"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1943100"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}