Parcrest Advises Anheuser-Busch on the Sale of its Houston-based Longhorn Packaging Glass Operations to the Ardagh Group

LONGHORN, Texas, March 16, 2021 /PRNewswire/ -- Parcrest Advisors ("Parcrest") served as the exclusive investment banking advisor to Anheuser-Busch ("A-B") on the sale of its Houston-based Longhorn Glass manufacturing facility ("Longhorn") to Ardagh Group ("Ardagh"). The transaction will help to ensure the long-term health and viability of the Longhorn facility, which supplies bottles to A-B's Houston brewery.

The transaction is comprised of the outright sale of the glass packaging operations combined with a long-term supply agreement between Ardagh and Anheuser-Busch, allowing Longhorn to continue supplying A-B breweries with top-quality glass bottles. Ardagh will also be investing in the modernization and upgrade of the facility as the life of its existing production furnace comes to an end.

Maintaining excellence throughout the supply chain remains a top priority for Anheuser-Busch and it was paramount to find a suitable partner with a clear vision for the Longhorn facility and its workforce. Ardagh's expertise in the glass manufacturing space, currently operating 33 glass manufacturing facilities in North America and Europe, makes them the perfect partner for the long-term future of Longhorn.

"We are grateful to have been entrusted with the sale of AB's Longhorn glass operations and helping find a solution for A-B, its Houston brewery and Longhorn's workforce. The Packaging sector continues to be at the forefront of our investment banking efforts and active coverage, with sustainable glass being an important segment of this sector. This complex carveout transaction involving an outright sale, a long-term supply agreement and a transition services agreement is an example of where we excel the most and add value to our clients," said Francisco Lume, Managing Partner of Parcrest Advisors.

"This transaction exemplifies our firm's ability to execute and deliver for a marquee client like Anheuser-Busch, especially during the COVID-19 pandemic where many M&A transactions have faced difficulties getting across the finish line. I am proud of our team and look forward to putting our best foot forward for all of our clients," stated James C. Lee, Founder and Managing Partner of Parcrest Advisors.

About Anheuser-Busch

For more than 165 years, Anheuser-Busch has carried on a legacy of brewing great-tasting, high-quality beers that have satisfied beer drinkers for generations. Today, Anheuser-Busch owns and operates more than 120 facilities, including breweries, wholesaler distribution centers, agricultural facilities and packaging plants, and have more than 19,000 employees across the United States. Anheuser-Busch is home to several of America's most recognizable beer brands, including Budweiser, Bud Light, Michelob ULTRA and Stella Artois, as well as a number of regional brands that provide beer drinkers with a choice of the best-tasting craft beers in the industry.

About Parcrest Advisors

Parcrest Advisors is a rapidly growing investment bank based in New York City with a strong focus in consumer and industrials sectors. In order to provide securities-related services discussed herein, principals of Parcrest are licensed with Independent Investment Bankers, Corp. member FINRA & SiPC. Independent Investment Bankers, Corp. and Parcrest are not affiliated entities. Further information about Parcrest is available at www.parcrest.com.

Media Contacts:

Francisco Lume
Managing Partner
+1 (212) 520-1718
[email protected]

James C. Lee
Founder & Managing Partner
+1 (212) 520-1717
[email protected]

SOURCE Parcrest Advisors

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