The Other Orlando Blog

European beer company InBev has announced a $47 billion takeover bid (PDF) for Anheuser Busch, the Americn beer company that owns SeaWorld and other Central Florida theme parks.

I find this disturbing.

Anheuser's amusement parks, including popular SeaWorld and Busch Gardens parks, could be sold if InBev's bid is successful. In a conference call Thursday, InBev said it may sell some of Anheuser's non-core assets.

The theme parks aren't seen as a natural fit for Anheuser. But they're profitable and possibly attractive to private-equity players or other large entertainment companies, experts say.

"The parks perform quite well," said Christian Aaen, a principal at Economics Research Associates. He said a key trend in the theme-park business is the increasing role of private-equity groups, including Blackstone Group's (BX) 2005 acquisitions of European amusement park operator Merlin Entertainments and Legoland Parks.

The same article does offer a ray of hope.

Some analysts say Anheuser's theme parks could even survive a merger given they generate healthy profits and good advertising for its products.

"If you go to any of their theme parks, there is always an Anheuser-Busch facility to go and drink their beers and learn about their brewery process," said B. Craig Hutson, an analyst at Gimme Credit. He said there is no evidence this drives incremental sales and lacks obvious synergies with its brewery operations.

"But, it helps create good will. I think they (would) be inclined to keep that business," he said.

I worry about what a sale would mean to the high quality of the parks and A-B's admirable commitment to animal conservation, to say nothing of the way it supports our troops and veterans (I'm one!) at the parks.

InBev has a reputation as a "lean, mean machine" with little taste for "frills." I'm hoping the deal doesn't go through.

Labels: anheuser busch seaworld orlando