How a tiny Brazilian brewery came to dominate the beer industry
It all started with a $1 billion deal in 1999 to combine two Brazilian brewers and create AmBev.
In 2004, AmBev and Belgium's Interbrew merged to create the world's largest brewer. Carlos Brito, who now runs the combined company, was CEO of AmBev.
In 2002, South African Breweries merged with Phillip Morris' Miller Brewing in a $5.6 billion deal.
In 2008, InBev struck a deal to acquire Anheuser-Busch for $59.6 billion and create AB InBev.
Another mega-deal was AB InBev's $20 billion purchase of Grupo Modelo, the brewer of Corona, in 2012.
For its part, SAB Miller struck its largest deal in 2011 with the $13 billion purchase of Fosters Group, Australia's largest brewer.