VIETNAM: APB unit snaps up local rival
Singapore-based Asia Pacific Breweries (APB) has secured another acquisition in Vietnam, the company said today (11 January).
Vietnam Brewery, in which APB controls a 60% stake, has bought local rival Quang Nam Brewery (QNB) through a venture with local firm Quang Nam Electric Construction Co.
The APB unit plans to spend around US$11m for an 80% stake in the venture, which has taken full control of QNB.
The move gives APB, the brewer of beer brand Tiger, control of five breweries in Vietnam, where beer consumption stands at around 15m hectolitres a year.
APB chief executive Koh Poh Tiong said the acquisition strengthens the group's presence in central Vietnam, where it already holds the Da Nang brewery.
"Central Vietnam provides a strategic launch pad for the continuing enlargement of the mainstream brands of QNB and the Da Nang brewery, namely, Larger and Biere Larue respectively.
"We will continue to enhance the brand equity of these mainstream brands and complement them with our popular premium brews - Tiger and Heineken."
Dutch brewing giant Heineken owns a 42% stake in APB, its partner in making headway into emerging markets.
In August, APB bought two Vietnamese breweries from Foster's Group in a deal worth US$105m.
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