British brewer buys full control of Vietnam joint venture

SABMiller Plc, the world’s second-biggest brewer, bought full control of its Vietnamese joint venture to increase its presence in emerging markets.

The purchase of Vietnam Dairy Products Joint Stock Co.’s 50 percent stake in SABMiller Vietnam JV Co. Ltd. makes SABMiller the sole owner of the unit, which supplies Ho Chi Minh City and the south of the country, the London-based brewer said Friday.

The JV makes Zorok beer in the country.

The joint venture had assets worth US$31.8 million as of December 31, the company said. The price was not disclosed.

SABMiller has bought smaller breweries from Romania to Nigeria and China to extend the efficiency and reach of already established beer brands. Per-capita beer consumption in Vietnam is still “modest” at 21 liters annually and the brewing industry “is expected to grow significantly,” SABMiller said.

Bloomberg, thanhnien

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