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Anheuser, Teamsters Reach Contract Agreement

Deal includes a renewal of Anheuser-Busch’s commitment to keep its 12 breweries open for the next 5 years, if union workers approve the contract during the first round of voting.

ST. LOUIS (AP) -- Anheuser-Busch Inc. said its reached a tentative labor agreement with more than 5,000 Teamsters who work at the company's 12 breweries.

The five-year contract, which has been recommended for ratification by the International Brotherhood of Teamsters, is expected to be voted on in November.

The deal includes a renewal of the St. Louis-based company's contractual commitment to keep the dozen facilities open for the span of the contract, if union workers approve the contract during the first round of voting.

Anheuser-Busch, the nation's largest brewer, also agreed to a 15 percent wage increase over the five-year contract.

The agreement, if ratified, will remain in place once the brewer completes its merger with Belgian brew InBev SA.

"We're pleased to have an agreement that gives our employees generous pay and benefits, while helping our company prepare for the future," President and Chief Executive August A. Busch IV said in a statement.

Anheuser-Busch shares fell 24 cents to $62.85 in trading Tuesday.