SAB’s fast boat to China
While other international brewers would be more than happy to steamboat out of China, South African Breweries (SAB) has gradually increased its market presence there. Last month SAB’s joint venture vehicle, China Resources Breweries (a joint venture with the government-owned and stock-market listed China Resources), formed a joint venture with Blue Sword Breweries, which is based in the province of Sichuan, to the southwest of the country.
The deal not only brings the total number of China Resources Breweries’ plants up to 25, it also makes the new joint venture the second largest brewer in China with a production of 25 million hl of beer. SAB’s contribution in cash was about US$26 million for its 49 percent stake in the investment. US$ 2.4 million hl..
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