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BELGIUM: Further acquisitions not on cards for Interbrew

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In the wake of its annual results yesterday, the world's second largest brewer, Interbrew said it was not going to make any major acquisitions this year. Instead it would be focusing on organic growth and improving its business efficiency.

Interbrew has been in aggressive mood in the last 24 months, making major acquisitions in the UK and Germany, among others and displacing Heineken as the world's second largest beer concern behind Anheuser-Busch.  "

But after reporting a 30% rise in core profits for 2001 and reiterating its target of double-digit growth in earnings per share up to 2004, the company said yesterday it was unlikely to repeat a purchase the size of Beck's this year.

Although Interbrew was still interested in making the odd purchase, it wanted noe to concentrate on what it had.

"We won't do anything unusual," Interbrew CEO Hugo Powell said.


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