Belgian brewing giant Interbrew S.A., and Diageo PLC jointly announced on July 1 the closing of the transfer to Interbrew of all import and distribution rights for Bass Ale in the United States. Bass Ale is a high-margin brand and will occupy a unique role in Interbrew's portfolio, said Belgian brewer in a statement. Bass Ale accounts for more than 25% of all super-premium imported beers in the US. In the US market, the brand gives Interbrew operational control of 7 out of the top 12 best-selling imported beers. Moreover, Bass Ale's volume will significantly strengthen Interbrew's position in the American on-trade market, said Interbrew.

"This is a tremendous opportunity for Interbrew," said John F. Brock, Interbrew's CEO. "Both Interbrew and Diageo have worked closely to make this transfer possible in a very short period of time. We are very enthusiastic about Bass® Ale and believe it will be an outstanding addition to the Interbrew USA portfolio."

Dave Eickholt, President, DIAGEO-Guinness USA Inc. (formerly Guinness Bass Import Company), said, "We are very proud to have grown Bass Ale to become one of the top 10 US imports during the past two decades. We believe that today's announcement will provide the best value for our shareholders and supports our ongoing approach of significant investment behind our total beer business."

03 July, 2003