28 July, 2006

China: InBev acquired controlling stake in Quzhou Xinguoguang Beer Company

Belgium-based brewing company InBev recently acquired 72.4% of shares of Quzhou Xinguoguang Beer Company with its partners, making it own more than ten plants in eastern China’s Zhejiang Province and taking over 50% of market shares there, SinoCast China Business Daily News released July 25.

Xinguoguang is the sixth largest beer brewery in Zhejiang, and it has as many as 85% of market shares in its headquarters Quzhou, with mainly three brands, Wudewan, Guoguang and Qianjiangyuan. It registered sales of 800,000 hectoliter in 2005.

InBev is the world’s largest beer brewery in terms of sales, and it has grown to be the third largest player in China’ s beer market with a 10% market share, after a series of acquisitions since its entering in 1997.

Earlier, it has already acquired several breweries in Zhejiang, and thus has owned more than 13 Chinese brands under its name.

Its annual production in China stands at 2.7 million tons, while the total sales in the country have topped 36 million hectoliters.

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