Anheuser-Busch buying Bend's 10 Barrel Brewing

NEW YORK (AP) — Anheuser-Busch said Wednesday that it has agreed to buy 10 Barrel Brewing of Oregon.

The companies did not disclose terms of the purchase, which they expect to complete before the end of this year.

Bend, Oregon-based 10 Barrel's beers are sold in Oregon, Idaho and Washington. It expects to sell about 40,000 barrels of beer in 2014, with its Apocalypse IPA brand accounting for almost half that total. It runs one brewpub in Oregon and another in Idaho and plans to open a third location in Portland, Oregon, in early 2015.

Anheuser-Busch InBev SA is the world's largest beer maker. The Belgian company's brands include Budweiser, Stella Artois and Corona.

Its U.S. shares rose 59 cents to $109.98 in midday trading Wednesday.