Subsequent Event |
9 Months Ended |
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Nov. 30, 2016 | |
| Subsequent Events [Abstract] | |
| SUBSEQUENT EVENT |
SUBSEQUENT EVENT:
Obregon Brewery –
In December 2016, we acquired a brewery operation business in Obregon, Sonora, Mexico from Grupo Modelo, S. de R.L. de C.V. (“Grupo Modelo”), a subsidiary of Anheuser-Busch InBev SA/NV for $583.4 million, net of cash acquired, subject to post-closing adjustments (the “Obregon Brewery”). The transaction primarily includes the acquisition of goodwill, property, plant and equipment and inventories. The brewery is expected to have four million hectoliters of production capacity with minimal investment and optimization by us after closing. This acquisition provides us with immediate functioning brewery capacity to support our fast-growing, high-end Mexican beer portfolio and flexibility for future innovation initiatives. It also enables us to become fully independent from the interim supply agreement with Grupo Modelo, which was terminated at the time of the brewery acquisition. The results of operations of the Obregon Brewery will be reported in the Beer segment and will be included in our consolidated results of operations from the date of acquisition.
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- References No definition available.
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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. No definition available.
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