UK: SABMiller – consolidation to continue – CFO
The consolidation of the global brewing industry is set to continue, according to SABMiller. In an interview yesterday (9 June), the brewer's CFO said that SABMiller was looking at all possible acquisitions.
"We're going to continue to see major transactions taking place; consolidation is underway," Malcolm Wyman told Dow Jones Newswires in an interview.
Wyman would not elaborate further, however, on which companies will be next on the big brewers' shopping lists. The next widely-felt target in the consolidation process is Colombia's Empresarial Bavaria. Wyman refused to comment on specific deals.
When asked about the company's performance in the US, where the so-called "cocktail culture" has affected brewer, Wyman was upbeat about the future. Although spirits have had a good run, it "looks as though the extent of the trend seems to be slowing down," he said. "There's a lot more activity in the beer segment now, with new brands being promoted in bars across the country," he said.
Regarding the ongoing price battle in the US with Anheuser-Busch, Wyborn reiterated that SABMiller will match Anheuser-Busch's prices but will not drop below them.
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