Cans of AB InBev's Bud Light hard seltzer are seen next to White Claw at Jewel-Osco supermarket in Chicago, Illinois, U.S. October 21, 2020. Picture taken October 21, 2020. REUTERS/Richa Naidu

Dec 5 (Reuters) - Anheuser-Busch InBev on Friday said it plans to acquire a majority stake in the U.S.-based ready-to-drink beverage brand BeatBox for about $490 million.

The deal would give Anheuser-Busch ownership of 85% of the company, with a path to 100% after five years based on a predetermined pricing formula.

The transaction is expected to close in the first quarter of 2026 following regulatory approval.

Surveys indicating a fall in alcohol consumption have fed a debate in recent years about whether drinking might be in long-term decline, especially in the key U.S. market, due to a trend towards healthier lifestyles and a broader retail slowdown.

BeatBox's acquisition will add to the Budweiser maker's "Beyond Beer" portfolio, which includes brands such as Cutwater Spirits, NÜTRL Vodka Seltzer and Phorm Energy.

AB InBev in late October had reported its lowest quarterly profit growth since 2021 as the alcohol industry grapples with weak demand and currency volatility.

(Reporting by Neil J Kanatt in Bengaluru; Editing by Maju Samuel)