US: SABMiller closes Sparks, Steel Reserve buy
SABMiller has closed its acquisition of US brands Sparks and Steel Reserve after US competition authorities cleared the deal.
The brewing giant announced the US$215m deal last month after striking an agreement with the brands' owner and long-time SABMiller contract brewing partner, McKenzie River Corp.
Sparks is a citrus-flavoured beer-based drink infused with caffeine, taurine, guarana and ginseng. The brand, which has seen sales more than double in two years to 317,000 hectolitres, will compete head on with products from Anheuser-Busch, including B(E) and Tilt.
Steel Reserve, a stronger, fuller flavour brand brewed for a minimum of 28 days, saw sales leap by 35% between 2003 and 2005 to 1.6m hectolitres.
Tom Long, recently-appointed president and CEO of SABMiller's US arm Miller Brewing, said: "We acquired these two fast growing brands to improve our portfolio mix and increase our overall profitability. Importantly, the new product development relationship with McKenzie River president Minott Wessinger will further expand our innovation capability and expertise."
Anheuser-Busch is to take on the US on-trade distribution for Hansen Natural Corp.'s flagship brand Monster Energy....
Heineken has struck a deal to handle Budweiser in Colombia....
Anheuser-Busch has drawn on the history of beer brand Michelob as it prepares to relaunch the product across the US....
Beer sales in Poland rose over 7% last year, according to figures from the country's brewing association....
Miller Brewing Co. is to launch a beer flavoured with lime and salt, a brand that will take its cue from "chelada", a Mexican-style beer....
Anheuser-Busch is launching its biggest UK promotion so far for Budweiser....
Anheuser-Busch has reported a 12% jump in profits during 2006 thanks to contributions from its stable of imported beers and growing sales overseas....
Carlsberg UK has calmed speculation that it is to launch a bottled version of its Tuborg brand in the UK off-trade....
- Heineken goes from strength to strength - Analysis
- Treasury Wine Estates CEO - Interview Pt II
- Treasury Wine Estates CEO - Interview Pt I
- Key trends for the alcohol category in 2017
- Heineken FY 2016 by region - results data
- Rum braced for falling volumes in years ahead
- Non-alcoholic Heineken set to hit Europe - CEO
- Beam Suntory revamps Bowmore whisky packaging
- Beam Suntory boosts top-line in 2016 - results
- Molson Coors hit by US$500m write-down in Canada
- Global Scotch insights - market forecasts, product innovation and consumer trends
- Global vodka insights - market forecasts, product innovation and consumer trends
- Global Cognac insights - market forecasts, product innovation and consumer trends
- Global gin insights - market forecasts, product innovation and consumer trends
- Global rum insights - market forecasts, product innovation and consumer trends