Anheuser-Busch InBev had been seeking a buyer for its theme parks since completing the $52 billion merger of beer giants InBev and Anheuser-Busch last year. Executives have said they want to sell off non-core assets to use the proceeds to pay down debt stemming from the merger.

Anheuser-Busch (AB) sold its theme park division, known as Busch Entertainment Corporation, as a direct result of the 2008 acquisition of Anheuser-Busch by InBev. The newly formed Belgian-Brazilian conglomerate, AB InBev, sought to streamline the company's operations and focus exclusively on its core business: brewing and distributing beer. To help pay down the massive debt incurred during the $52 billion takeover, AB InBev divested "non-core" assets, including the theme parks. In 2009, the parks—which included Busch Gardens Tampa, Busch Gardens Williamsburg, SeaWorld, and Discovery Cove—were sold to the private equity firm Blackstone Group for approximately $2.7 billion. This entity eventually became SeaWorld Parks & Entertainment (now United Parks & Resorts). While the parks still bear the "Busch" name through a licensing agreement, they have no corporate connection to the brewery. This divestiture allowed AB InBev to reduce its financial leverage and refocus its resources on global brand expansion in the highly competitive beer market.