just The Facts - SABMiller CEO, Graham Mackay - The Highlights
SABMiller was formed in 2002
Earlier today, SABMiller announced that chief executive Graham Mackay will stand down next year. Here, just-drinks takes a look at the major events during Mackay's tenure.
- Mackay has been in charge from the start, becoming CEO of the newly-formed SABMiller when South African Breweries (SAB) bought Miller Brewing from Philip Morris Companies in July 2002. He was appointed group managing director of SAB in 1997 and became chief executive when the company was listed on the London Stock Exchange in 1999.
- One of SABMiller's first acquisitions was in China, showing the company's intent to move from its African base into Asia. Today, Snow, jointly-owned by SABMiller and China Resources Breweries Limited, is the biggest beer brand in the world, with sales coming almost excluively from its native Chinese market.
- In February 2003, the company bought a 98.8% stake in Polish brewer Browar Dojlidy and an outstanding shareholder loan for US$37.89m. Mackay said the acquisition allowed SABMiller to grow Dojlidy's core brands across its existing distribution platform.
- A few months later, SABMiller announced it had bought a controlling stake in the Italian brewer Birra Peroni. It was the first significant investment in the Western European market for the brewer.
- The company lost out on a 29% stake in Chinese brewer Harbin to Anheuser-Busch in May 2004. SABMiller said at the time that it had been happy with the price it had offered.
- In October 2005, SABMiller completed one of its most important acquistions – a controlling stake in Colombia's Bavaria, the second-largest brewery in South America. The deal was worth US$4.8bn.
- October 2007 saw the arrival of MillerCoors, as SABMiller and Molson Coors confirmed plans to combine their US and Puerto Rico operations. The companies said the joint venture would create "a stronger, brand-led US brewer with the scale, resources and distribution platform to compete more effectively in the increasingly competitive US marketplace".
- The following month, SABMiller made more waves when it snapped up Dutch brewer Grolsch for US$1.19bn.
- In a smaller European deal, SABMiller bought a controlling interest in major Ukrainian brewer CJSC Sarmat in July 2008.
- In January 2009, SABMiller acquired a 71% stake in Romanian brewer Bere Azuga.
- Then in December last year, Fosters joined the SABMiller stable after a US$11.75bn buyout. The effects of the deal are still being felt today.
Sectors: Beer & cider
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