CHINA: SABMiller JV acquires Aoke Beer
SABMiller steps deeper into China
China Resources Snow Breweries (CRB), SABMiller's joint venture with China Resources Enterprise, has acquired Aoke Beer based in Zhengzhou in central China's Henan province.
Financial details will not be disclosed, a CRB spokesperson said today (13 January). The purchase follows the Snow beer brewer's move to expand its own capacity in Henan province late last year.
“The recent activities in Henan province were just the first step for us to thrust into the market in central China,” said CRB's general manager, Wang Qun. “Aoke is a renowned regional beer brand, so not only the brand will still be in use, also we will largely enrich its production line,” a CRB spokesperson added.
The company plans to invest about RMB400m (USD60.6m) in Aoke to boost its annual production capacity by nearly 40% to 400m litres.
SABMiller's entry into Belgium's speciality beer market makes sense and more niche deals are likely across Europe's craft beer sector....
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