SABMiller JV buys interest in 14 Chinese breweries

SABMiller’s joint venture in China is spending $320 million to acquire the remaining interest in 14 breweries based in the Sichuan province in South West China.

China Resources Snow Breweries (‘CR Snow’) along with China Resources Enterprise will have a 38% equity of the ‘Sichuan Breweries’. (CR Snow already owns a 62% equity interest.)

“We are very pleased that we can consolidate our brewery interests in Sichuan,” says Mark Chen, managing director of China Resources Enterprise.

“Sichuan is a major profit center for CR Snow.”