CHINA: SABMiller CR Snow nears Moutai Group beer deal - report
SABMiller's joint-venture in China, CR Snow Breweries, is understood to be close to acquiring the beer business of China Kweichow Moutai Distillery Group.
CR Snow, which is 51%-owned by China Resources Enterprise, is likely to pay at least CNY100m (US$15.7m) for Moutai Group's Moutai Beer business, according to a Sinocast report yesterday (15 August). Moutai and CR Snow have been in talks about a deal for much of this year, said the report, which cited "people in the know".
When contacted about the prospective deal, an SABMiller spokesperson declined to comment to just-drinks. SABMiller owns the remaining 49% of CR Snow.
Moutai beer has three production lines and 580 staff, according to the company's website. If CR Snow's planned acquisition goes through, it will follow closely behind the brewer's buyout of all outstanding shares in two breweries in China's Zhejiang province, announced earlier this month.
Pete Brown is back, refreshed, raring to go, and pondering the future. "Which way will beer go in 2012?", he asks the tea leaves....
SABMiller's Chinese joint-venture, CR Snow Breweries, could get a second chance to dig its claws into Kingway Brewery and mount a stronger challenge to Tsingtao in the country's Guangdong province....
- Brown-Forman's march on premium whisk(e)y -Comment
- Will US consolidation leave craft alcohol exposed?
- Are consumers getting tired of consuming?
- Where does AB InBev see the future of beer?
- Should Boston Beer Co put up the For Sale sign?
- Brown-Forman to buy BenRiach Distillery Co
- AB InBev snaps up Italy's Birra del Borgo
- Smirnoff Ice Electric flavours - NPD
- Bacardi rolls out new global Martini ad - video
- Brown-Forman appoints new GTR marketing head
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends
- Consumer and Market Insights: Wine Market in China
- Global non-Scotch whiskies insights - market forecasts, product innovation and consumer trends
- What Next for Beer and Brewers Following the MegaBrew Deal?
- Emerging Drinks Industry Trends