China & UK: SABMiller will acquire remaining 38% interest in 13 Blue Sword breweries
SABMiller, the worlds second largest brewery by volume, will acquire the remaining 38% interest in 13 breweries owned by Blue Sword Group in Sichuan province for US$320m through China Resources Snow Breweries, a 49:51 joint venture with China Resources Enterprise formed in 1994, EIU Viewswire Via Thomson Dialog NewsEdge announced on January 17.
The JV will possess 61 breweries upon completion of the acquisition, making CR Snow the largest brewer in China with a 14.9% market share. CR Snow had previously acquired a 62% stake in Blue Swords 13 Sichuan breweries in 2001. As part of the new deal, CR Snow acquires rights to the Blue Sword brand as well as rights to a 14th brewery, Guizhou Waterfall Brewery, that was not included in the 2001 agreement.
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