Fierce Chinese beer market fueled decision
Dutch brewing behemoth Heineken said Monday it had finalized a $3 billion deal to merge its Chinese operations with the country’s top brewer, expanding its access to the world’s largest beer market.
Under the deal, the Dutch brewer said it will take a 40 percent stake in the holding company that controls China Resources Beer, merge its current operations in China into the firm and license to it the Heineken brand for use in the country.
“Our long-term strategic partnership will help Heineken to significantly expand the availability of the Heineken brand, and will strengthen CR Beer’s offering in the rapidly growing premium beer segment in China,” said Heineken CEO Jean-Francois van Boxmeer.
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