Tags: APFN | EU | Netherlands | China | Beer

Beer Maker Heineken Strikes Deal to Expand in China

Friday, 03 August 2018 07:38 AM

BRUSSELS (AP) — Dutch brewing company Heineken says it's buying a 40 percent stake in the company that controls China's biggest beer maker, China Resources Beer.

Heineken said in a statement Friday that it would invest $3.1 billion in the venture as it seeks to expand in the world's biggest beer market.

It says that Chinese drinkers are embracing imported beers and that CRB, a state-controlled company that produces the best-selling Snow lager, lacks a premium overseas brand.

The stake in CRB would significantly boost Heineken's distribution reach.

Heineken is trying to keep pace with, Anheuser-Busch InBev, which is the world's largest brewing company and in 2016 added to its heft by taking over its closest rival, SABMiller.

AB InBev is worth 174 billion euros ($202 billion), multiple times Heineken's 51 billion euros.

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Dutch brewing company Heineken says it's buying a 40 percent stake in the company that controls China's biggest beer maker, China Resources Beer.Heineken said in a statement Friday that it would invest $3.1 billion in the venture as it seeks to expand in the world's biggest...
APFN,EU,Netherlands,China,Beer
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2018-38-03
Friday, 03 August 2018 07:38 AM
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