just-drinks authors and correspondents
Stefan Kirk at Glenboden
Articles by Stefan Kirk at Glenboden
Following the trajectory in other major markets, Brazil looks ripe for a round of beer consolidation to create a stronger number two behind Anheuser-Busch InBev's AmBev unit. It's an open question, however, as to whether Heineken or Kirin Holdings will win the race; the key could be in deal structuring and valuation.
In recent years a big re-invention story for the beer industry has been craft regional beers, especially in the US but also now in parts of Europe. We believe this is driven by that segment being a conduit for the majors to both growth and premiumisation, and see more M&A activity there going forward.
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