CHINA: Harbin Brewery Group on acquisition trail
Harbin Brewery has followed its 2003 results by announcing plans to make acquisitions going forward. The mainland's fourth-largest brewer, 29.4%-owned by SABMiller, has said it is considering buying Ginsber Beer, a key rival in Jilin province.
In a statement, Harbin's chief executive Peter Lo said: "Industry competition as well as a series of mergers and acquisitions are bringing a lot of new challenges to brewers." Lo added that the company is looking to buy Ginsber, which is wholly-owned by township enterprise Hongzui Group.
The beer market in Jilin is shared between Harbin, Ginsber and China Resources Breweries, the latter being 49%-owned by SABMiller.
Lo said that his company had not held any discussions with China Resources Breweries, which is also interested in buying Ginsber, about a co-ordinated approach.
China's fragmented beer market, the world's largest by volume, is in the process of consolidation as global brewers look to invest in the country.
Earlier this week, Harbin announced that net profit for 2003 hit HK$114.38m (US$14.66m), based on a 25% rise in turnover to HK$1.4 billion.
Having recorded a third consecutive year of volume, margin and earnings growth, global brewing force, SAB Miller, was in a position to give shareholders a 27% dividend increase and eye the acquisition...
Rumours that SABMiller is poised to launch a bid for Empresarial Bavaria swept the trading floor yesterday (2 June)....
The Indian subsidiary of SABMiller, MBL Investments (Mysore), has acquired the Shaw Wallace Group's 50% interest in the brewing operations of SABMiller's Indian joint-venture....
The German-owned investment house, Deutsche Bank, has upgraded shares in the UK-based international brewing group, SABMiller, from "hold" to "buy", and raised its target for the shares from 830p to 95...
The CEO of SABMiller has hailed the brewer's full-year figures as "very pleasing" today (19 May)....
SABMiller has seen its share rating upgraded....
Fresh rumours surrounding a possible bid for Scottish & Newcastle saw the brewer's share price rise sharply yesterday (18 May) morning....
SABMiller has agreed to acquire the Slovakian brewer Topvar. Topvar is located in the city of Topoľčany in Western Slovakia and sold 569,000 hectolitres of beer in 2004....
- The post-Brexit winners and losers - Analysis
- What Brexit means for drinks industry? - Analysis
- What does Brexit mean for AB InBev's SAB deal?
- Interview - Seedlip founder, Ben Branson
- Customisable drinks - The next consumer trend
- Carlsberg to close UK distribution arm
- Pernod Ricard exec shuffle - Denis O'Flynn leaves
- Major spirits M&A remains out of sight - analyst
- C&C Group will be a Brexit victim - analyst
- Pernod Ricard gives Beefeater packaging revamp
- Adultifying Soft Drinks; Capitalizing on rising adult demand for non-alcoholic beverages
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends
- Global non-Scotch whiskies insights - market forecasts, product innovation and consumer trends
- Spirits and Wine: Corporate Overview
- Global RTD insights - market forecasts, product innovation and consumer trends