Mar 13 2009
Graham Mackay, boss of SABMiller, forked out $42 million for a strategically important acquisition in the Shandong Province of China. Here’s what Harpers had to say:
Brewing giant SABMiller has acquired one of China’s largest breweries in a $42 million joint venture that will expand its influence in one of the world’s most lucrative markets.
The latest deal, a joint venture with China Resources Snow Breweries Limited (CR Snow) in conjunction with China Resources Enterprise Limited (CRE), will see SABMiller take full control of the Hupo Brewery in northern Shandong Province within three years.
Comment: While InBev falls from the one crisis to the next to digest the US acquisition which made it the biggest brewer in the world, the second biggest SABMiller cheerfully treks around the world to pick off the juiciest bits in the best markets. Read this blog post. The one is bound to the mature American market, while the other has his eye on the markets of tomorrow. It’s already clear who is going to be the number one in a few years’ time…