HONG KONG, July 13 China Resources Enterprise
Ltd said on Wednesday that its joint venture with
SABMiller , the world's No. 2 brewer, has bought stakes
in two beer makers in China from Heineken for 870
million yuan ($134.42 million) to cement its leading position in
China Resources Snow Breweries Ltd (CR Snow) bought a 49
percent stake in Jiangsu Dafuhao Breweries and 100 percent of
Shanghai Asia Pacific Brewery from Heineken Asia Pacific Brewery
Co Ltd, it said in a statement.
"The group will continue to seek and evaluate investment
opportunities actively as well as pursuing organic growth in
order to expand our market share in China's beer market," said
Chen Lang, chief executive of China Resources Enterprise, the
country's biggest supermarket operator and top beer maker.
However, China Resources has said it is not interested in
bidding for Australia's Foster's Group Ltd , and that
its main focus was developing the mainland market.
China is the world's largest beer producer and consumer,
attracting global giants such as SABMiller and Heineken to come
and compete in the fast-growing industry.
China Resources said Jiangsu Dafuhao Breweries, which has a
strong market position in central Jiangsu province, has five
breweries in the province that can produce more than 450,000
kiloliters of beer a year in total.
Shanghai Asia Pacific Brewery, which produces "REEB", the
most famous beer brand in Shanghai, has an annual production
capacity of 250,000 kiloliters.
CR Snow is the largest beer maker in the country, with a 21
percent market share. In 2010, the sales volume of "Snow" brand
beer alone surged 16 percent to about 8.4 million kiloliters
compared with the company's total sales volume of 9.28 million
kiloliters last year.
($1 = 6.472 Chinese Renminbi)
(Reporting by Alison Leung; Editing by Will Waterman)