CHINA: Carlsberg adds to China footprint with Chongqing unit purchase
Carlsberg will add eight more breweries to its Chongqing portfolio in China
Carlsberg has confirmed that it plans to acquire almost all of Chongqing Beer Group's remaining brewing interests in China.
The Denmark-based brewer said yesterday (30 December) that it has agreed to buy Chongqing Beer Group Assets Management Co from the state-owned group. The transaction, which is valued at RMB1.56bn (US$255.3m), will see Carlsberg take over eight breweries and one malting plant.
Earlier this month, Chongqing Beer Group put the asset management division up for auction. While Carlsberg was reported locally as being the frontrunner to buy the unit's assets, the brewer declined to comment at the time.
The division's eight breweries, located in the eastern provinces of Jiangsu, Anhui and Zhejiang, have a combined annual capacity of around 12m hectolitres. Carlsberg will add the assets, which “primarily sell brands in-licensed from Chongqing Brewery Co as well as the brand Tianmuhu”, to its 60% holding in Chongqing Brewery.
When contacted by just-drinks yesterday, a spokesperson for Carlsberg said: “Aside from an ongoing minority interest in Chongqing Brewery, it is fair to say that Chongqing Brewery Group’s involvement in the beer industry is minimal.”
For just-drinks' review of the global beer industry in 2013, click here.
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