CHINA: Modelo signs A-B as Corona importer
The deal, announced last night (4 December), will initially cover Modelo's flagship brand Corona but could in future include other brands in its portfolio, the Mexican brewer said.
"We are very pleased with this association, which offers excellent long-term growth opportunities for Grupo Modelo's brand portfolio in China, a very important market for our company," said Carlos Fernandez, Modelo's chairman and CEO.
A-B president and CEO August A. Busch IV said Corona would make "an excellent complement" to the brewer's portfolio in China, which includes Budweiser and local brand Harbin.
International brands have had limited success in China, the world's largest beer market. Budweiser is the best-known brand in what remains a tiny segment of the Chinese market, where local brands dominate sales.
SABMiller has hinted that it wants to introduce Miller Genuine Draft into China but has yet to decide when to launch the beer into a market where brewers have found it hard to command a premium price for an international brand.
The deal between Modelo and A-B serves to deepen the relationship between the two brewers. A-B owns 50% of Modelo, which handles Budweiser and Bud Light in Mexico.
A-B owns a 27% stake in Chinese brewer Tsingtao and fully owns another local brewer, Harbin.
SABMiller has distanced itself from speculation that it is pondering a tie-up with Coors in the US....
SABMiller's North American unit is targeting a turnaround of its Miller Lite brand in the region....
Grupo Damm is targeting a strong rise in export sales going forward, according to local reports....
Dreher Breweries, the Hungarian subsidiary of British brewer SABMiller, plans to invest millions in upgrading its facilities this year....
Budweiser has announced it will be renewing its partnership with The Premier League, the UK's top flight football league, with the renewed deal commencing 1st June 2007....
Grupo Modelo and Carlsberg have sealed a deal that will see the Mexican giant import and distribute the Danish brand in Mexico by the second half of the year....
Czech brewing company Budejovicky Budvar is considering plans to distribute Carlsberg beer in the Czech Republic....
Top executives at Anheuser-Busch were in bullish mood at the recent BUD Investor Conference held in St Louis, giving an optimistic outlook for the US brewing giant's future prospects, both in the US a...
- Is Brown-Forman doing a Jack Daniel's in Ireland?
- Is Brown-Forman at the end of the SoCo road?
- Is time right for TWE to move for Diageo's wines?
- Are we kidding ourselves over craft spirits?
- Will a sexed-up SABMiller tempt AB InBev?
- Diageo secures Xerox Corp CFO as finance head
- Tesco pulls several Carlsberg SKUs in UK
- Diageo, Treasury Wine Estates quiet on wine sale
- Former Pernod Ricard exec joins Wakefield Wines
- Inver House Distillers posts FY profits leap
- The IWSR Duty Free/Travel Retail Summary Report 2015
- Future growth opportunities for global spirits
- Global gin insights - market data, product innovation and consumer trends research
- Global non-Scotch whiskies insights - market forecasts, product innovation and consumer trends research
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends research