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E-Malt.com Newsletter 15a
April 10 - April 12, 2017
Quote of the Week
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Abraham Lincoln
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Currency Rates
Base Currency: US Dollar
on April 12, 2017 |
Base Currency: Canadian Dollar
on April 12, 2017 |
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1 USD = 0.9433 EUR
1 USD = 0.8038 GBP
1 USD = 1.3325 CAD
1 USD = 1.3329 AUD
1 USD = 110.4000 JPY
1 USD = 3.1342 BRL
1 USD = 56.9552 RUB
1 USD = 6.8994 CNY
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1 CAD = 0.7504 USD
1 CAD = 0.6032 GBP
1 CAD = 0.7078 EUR
1 CAD = 1.0002 AUD
1 CAD = 82.8400 JPY
1 CAD = 2.3517 BRL
1 CAD = 42.7862 RUB
1 CAD = 5.1770 CNY
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Currency Rates Chart
Equities of the Largest Breweries
USA: Boston Beer’s Jim Koch laments the effect of acquisitions by big brewers on the craft beer industry
...Click here
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USA, CO: Odell Brewing to open new brewery in Denver
...Click here
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USA, ME: Sebago Brewing breaks ground on new brewery in Gorham
...Click here
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Canada, ON: River Road Brewing & Hops preparing to launch soon in Huron County
...Click here
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USA, ME: New owners of Maine’s oldest craft brewery not wasting time in making investments
...Click here
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USA, NY: Sen. Charles Schumer calling for more access to crop insurance for malting barley growers
...Click here
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USA, VA: Trapezium Brewing Co. to open another brewery in Bedford
...Click here
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USA, CO: Mancos Brewing Co. to move to a larger location by end of May
...Click here
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USA, TN: Clinch River Brewing hoping to join Knoxville’s beer scene by end of May
...Click here
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Africa: AB InBev to export its African beers to markets around the world
...Click here
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China: Chinese brewers poised for further consolidation faced with a shrinking domestic market
...Click here
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Malaysia: Heineken Malaysia’s net profit down 3.7% in Q1
...Click here
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World: World barley trade forecast lowered on smaller than expected export from the EU and Russia
...Click here
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Asia: Kirin Holdings to export its ‘craft’ beers around Asia
...Click here
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Japan: Sapporo demands return of tax paid for Goku Zero Drink
...Click here
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UK & Ireland: Diageo to ‘manage through’ Brexit without disruptions of Guinness supplies
...Click here
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UK: BrewDog sells 22% stake to private equity house
...Click here
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South Africa: AB InBev completes sale of shareholding in Distell Group Limited
...Click here
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World: China’s Kweichow Moutai overcomes Diageo and becomes world’s most valuable liquor company
...Click here
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Ethiopia: Guinness Beer introduced to Ethiopia’s market
...Click here
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Angola: Castel to grow maize in Angola for beer production
...Click here
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Graph of the Week
Table of the Week
The Number of US Breweries 2009 - 2016
Prices Evolution
Barley Prices
Theoretical Malt Prices
Scientific Digest
CO2 EXTRACT FOR BETTER
FLAVOUR STABILITY
ABSTRACT
A German research group is looking into beneficial
compenents in hops to improve flavour stability. In
their latest publication, they summarize their trails
using CO2 extract in context with reducing the iron
content in beer. In comparison to dosing the extract
at the beginning of boil they tried different versions of
dividing the hop dosing throughout the boil. With
this they were able to reduce the iron content by
about 30%, resulting in improved flavour stability
not only based on analytical values but also on
sensory evaluation.
Wietstock, Ph. et al: Influence of Hopping Technology on Oxidative Stability
and Staling-Related Carbonyls in Pale Lager Beer, Brewing Science, November /
December 2016 (Vol. 69)
Read more
Source: Barth Innovations
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These Days in Business History
10 April
1790 - U.S. Patent system forms
1816 - The Federal government of the United States approves the creation of the Second Bank of the United States
1930 - Synthetic rubber 1st produced
1956 - Philips broadcasts 1st Dutch color TV programs
11 April
1919 - The International Labour Organization is founded
1929 - Loetafoon celluloid film system demonstrated in Amsterdam
1992 - Euro-Disney opens near Paris
1994 - Software programmer Marc Andreesen, then 22 years old, and venture capitalist Jim Clark, the co-founder of Silicon Graphics Inc., found Mosaic Communications Corp
12 April
1903 - Jan Tinbergen is born, Dutch economist and U.N. advisor, Nobel 1969
1905 - French Dufaux brothers test helicopter
1992 - The Euro Disney Resort officially opens with its theme park Euro Disneyland. The resort and its park's name are subsequently changed to Disneyland Paris
1996 - One of the first companies ever to go public with an exclamation point in its name, Yahoo! Inc., launches its IPO on NASDAQ, selling 2.6 million shares at an initial price of $13 a share
Agenda
April 2017:
07-08: Helsinki Beer Festival 2017 (Helsinki , Finland)
10-13: Craft Brewers Conference & BrewExpo America 2017 (Washington, D.C., USA)
12-14: Siberian Beer 2017 (Novosibirsk, Russia)
22-23: Zythos Beer Festival 2017 (Leuven, Belgium)
May 2017:
14-18: EBC 2017 (Ljubljana, Slovenia)
16-19: Beer 2017 (Sochi, Russia)
18-20: Copenhagen Beer Festival 2017 (Copenhagen, Denmark)
25-27: South Beer Cup 2017 (Buenos Aires, Argentina)
June 2017:
06-07: Brewing Equipment and Technology 2017 (Birmingham, UK)
11-13: Brewing Conference Bangkok 2017 (Bangkok, Thailand)
14-18: Mondial de la Biere 2017 (Montreal, Canada)
July 2017:
08: Beer Boot Camp 2017 (Johannesburg, South Africa)
15: Beer Boot Camp 2017 (Cape Town, South Africa)
26-28: Brasil Brau 2017 (Sao Paulo, Brazil)
August 2017:
04-06: The 21st International Berlin Beer Festival (Berlin, Germany)
08-12: The Great British Beer Festival 2017 (London, UK)
09-12: Vietfood & Beverage 2017 (Ho Chi Minh City, Vietnam)
September 2017:
03-06: 18th Australian Barley Technical Symposium (Hobart, Tasmania)
07-09: Irish Craft Beer Festival 2017 (Dublin, Ireland)
11: International MicroBrew Symposium 2017 (Munich, Germany)
11-15: drinktec 2017 (Munich, Germany)
16-03 October: Oktoberfest (Munich, Germany)
23-24: Whisky Live Paris 2017 (Paris, France)
October 2017:
16-17: 104 VLB October Convention 2017 (Berlin, Germany)
23-25: 8th Ibero-American VLB Symposium 2017 in Guatemala (Guatemala City)
November 2017:
22-23: Craft Beer Italy 2017 (Milan, Italy)
More events are available on site www.e-malt.com
News Articles
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USA: Boston Beer’s Jim Koch laments the effect of acquisitions by big brewers on the craft beer industry
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A beer battle is brewing between Sam Adams and Miller Lite, Fortune reported on April 10.
The companies that make those beers, Boston Beer and Molson Coors respectively, have found themselves in a war of words after The New York Times published an op-ed by Boston Beer founder Jim Koch in which the brewer lamented the effect Big Beer mergers have had on the craft beer industry. According to Koch, mergers and acquisitions led by Molson Coors' subsidiary MillerCoors and Anheuser-Busch InBev have led to $2 billion in higher prices annually, thousands of lost jobs, and a more restrictive wholesaler channel that favors Big Beer over craft upstarts.
"I worry that yet another major shift in the beer landscape is upon us — and this time, American consumers will be the losers," writes Koch in a Times op-ed entitled "Is It Last Call For Craft Beer?" That piece comes shortly after the trade organization Brewers Association—which advocates for the craft industry—reported 2016's volume increased a fairly modest 6%, partly due to Big Beer binging on craft rivals at a rapid pace. When large-scale beer concerns buy craft brewers like Ballast Point and Lagunitas, sales of their ales are no longer deemed "craft"—though
...More info on site
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USA, CO: Odell Brewing to open new brewery in Denver
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The Mile High City is getting its own Odell brewery and taproom.
The Fort Collins-based craft brewer announced its plans on April 10 to build a two-story, 4,000-square-foot facility at 2945 Larimer Street in Denver’s River North (RiNo) district. It’s scheduled to open by the end of the year, the Coloradoan reported.
The spot will feature 15 tap handles, two bars, an outdoor patio with two fire pits and a partially-covered rooftop patio. The facility will also have space for live music.
“For years we’ve explored the potential of a second taproom, and Denver has always been at the top of that list,” Odell CEO Wynne Odell said in a statement.
The new location will feature a 10-barrel pilot brewhouse that will make experimental beers just for the taproom. It will be the first time Odell has brewed outside of Fort Collins since it launched in 1989.
The company will add about 20 new taproom employees in Denver. Odell currently employs about 130 people in total.
Veteran Odell brewer Brent Cordle will lead the new Denver pilot brewery.
“Odell Brewing has placed a lot of importance on our pilot system,” said COO Brendan McGivney in the statement. “It’s been our proving ground where we push ourselves to
...More info on site
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USA, ME: Sebago Brewing breaks ground on new brewery in Gorham
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Sebago Brewing Co. (SBC), in partnership with the Shaw Brothers Family Foundation, hosted a groundbreaking ceremony at their new destination brewery on Lower Main Street in Gorham on April 11, Brewbound reported.
Co-founders Kai Adams, Brad Monarch and Tim Haines of SBC have invested $5 million to build a 30,965-square-foot building that will double the size of the current Gorham brewery to a four vessel and 40 BBL brew house to help the brewing company keep up with the staggering demand for its craft beer. Year-to-date, SBC has been trending at over 44.3 percent growth.
Of the new building’s total space, 21,485 square feet will be dedicated to the brewery and 9,480 square feet will be reserved for a tasting room with office space located directly above. The new brewery will be hiring up to 40 full- to part-time employees, and will specialize in new instrumentation that will help to maintain and advance SBC’s consistency and quality of beer.
“Our growth is directly related to our team,” says Adams. “We have a great culture here, where everyone has fun, cares about the beer and the success of the company. So when we say ‘brewed for times like these,’ we’re talking about our customers’
...More info on site
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Canada, ON: River Road Brewing & Hops preparing to launch soon in Huron County
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The Clinton News Record reports that a new farm-based brewery is preparing to launch soon on the outskirts of Bayfield in Ontario’s Huron County.
River Road Brewing & Hops is being established by Dave and Nikki Andrew, a couple of who have been homebrewing for more than a decade. And as the company name suggests, they are growing their own hops, as well as feeding spent grain from brewing to the highland cows that are raised on the farm.
Once the required licencing is in place, River Road will be offering a variety of brands – including Up Your Kilt Wee Heavy, Dashboard Lite Pilsner, Porter? Porter, and Westside West Coast Pale Ale – on draught at local bars and restaurants. Future plans include a retail store, tastings and tours.
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USA, ME: New owners of Maine’s oldest craft brewery not wasting time in making investments
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The new owners of D.L. Geary's, Maine's oldest craft brewery, aren't wasting time in making investments.
The Sun Journal reports that two new 60-barrel fermenters have arrived in the past week and that two new beers will be offered next month.
Geary's was incorporated in Portland in 1983 by David and Karen Geary and holds brewery license No. 1 in a state that now has more than beer 90 brands. But sales have declined and the brewery has lost out on consumers in their 20s and 30s.
Alan and Robin Lapoint say their turnaround plans include adding two pilot lines to experiment with new recipes. They plan to debut two American-style brews, Riverside IPA and O.G. (Original Geary's), which will be offered in cans.
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USA, NY: Sen. Charles Schumer calling for more access to crop insurance for malting barley growers
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Sen. Charles Schumer is calling on the U.S. Department of Agriculture to make crop insurance for malt barley available to more New York farmers to help the craft brewing industry in the state, AP reported on April 10.
Schumer was at the 1886 Malt House in Oswego County on April 10 to make his pitch to protect against risks associated with growing the crop.
New York's farm and craft breweries need state-grown malt barley to make their beer, but many farmers are unwilling to plant it because it's prone to losses from severe weather and disease.
Schumer says more farmers would take the risk if they had access to federal crop insurance like growers do in other states. Right now, the insurance is available in only four New York counties.
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USA, VA: Trapezium Brewing Co. to open another brewery in Bedford
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One of the most popular spots in Old Towne Petersburg, Trapezium Brewing Co., has become a symbol of Petersburg’s suddenly booming business culture. Though the brewery has only been open since June, its success has led management to open a sister location in Bedford, Va., the Progress Index reported on April 10.
“We saw an opportunity to do a different style of beer up there, to do more lagering and maybe some contract brewing,” said Trapezium owner Dave McCormack. “The opportunity presented itself, so we took it.”
The Bedford location, which is just west of Lynchburg and about two hours away from Petersburg, will be a similar set-up to the Petersburg location, though it will give the brewers an opportunity to expand on the type of beers they offer.
“Out there we’re doing German style beers, so we’re doing a lot of lagering, which means they have to sit in tanks for a long time,” said McCormack. “So we need to have more tank space.”
Despite the distance, McCormack said there have been minimal struggles so far in the expansion process.
“We don’t have too many challenges,” he said. “We have a great team and great contractors. It’s gone very smoothly.”
McCormack was speaking during Trapezium’s
...More info on site
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USA, CO: Mancos Brewing Co. to move to a larger location by end of May
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Montezuma County Commissioners on April 10 approved a liquor license permit for the Mancos Brewing Co., The Journal reported.
The brewery plans to move to 484 E. Frontage Road from its current location at 500 W. Railroad Ave. The new location is just outside limits, so the brewery needed approval from the county.
Co-owner Kathy Hands told the commissioners they plan to make the move by the end of May.
“It’s very exciting,” she said.
No one spoke for or against the license during a public hearing at the commissioners’ regular meeting on April 10. Commissioners Larry Don Suckla and Keenan Ertel voted to approve the license. Commissioner James Lambert was absent.
The new location is about four times bigger than the current pub, on a 2-acre property, co-owner DeWayne Jackson told The Journal in March. Alpacka Rafts formerly occupied the building, and has moved to a new downtown location.
The outdoor patio at the new location also will be four or five times larger than the current pub’s outdoor seating area, Jackson said. There will be a stage both indoors and outdoors, and there will be live music year-round, he said.
Jackson also will be upgrading his brewing system from 1.5 barrels to seven, he said.
...More info on site
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USA, TN: Clinch River Brewing hoping to join Knoxville’s beer scene by end of May
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Knoxville's craft beer boom is continuing as Clinch River Brewing plans to open on Gay Street later this spring, WBIR-TV reported on April 10.
The brewery is going into the Holston building on the corner of Clinch Avenue and Gay Street.
The building boarders Krutch Park. Last fall, the city gave the brewery permission to use part of the park as outdoor patio space.
Clinch River Brewing is one of six new breweries opening in Knoxville, and the owners say they're excited to be part of that group.
"We want to be the front page for a lot of the local breweries. we want to have their beers on tap so that a visitor coming in and staying at the new Hyatt Place can sample the beers and maybe be intrigued enough to jump on the tour bus and take a craft beer tour," said Brien Shirey, with Clinch River Brewing.
The owners say the age of the Holston building has caused some construction challenges and delays, but they hope to be open for business by the end of May.
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Africa: AB InBev to export its African beers to markets around the world
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Anheuser-Busch InBev NV will export African beer brands to its markets around the world as the Budweiser maker seeks to maximize the potential of
...More info on site
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China: Chinese brewers poised for further consolidation faced with a shrinking domestic market
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Faced with a shrinking domestic market for the third straight year, China Resources Beer and Tsingtao Brewery have struggled to turn around their fortunes,
...More info on site
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Romania: Beer market stays flat in 2016
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Romania's beer market stayed flat in terms of volume in 2016 as compared to the previous year, at 15.8 million hectolitres, the Brewers of
...More info on site
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Malaysia: Heineken Malaysia’s net profit down 3.7% in Q1
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Heineken Malaysia Bhd saw its net profit fall 3.7% to RM48 million in the first quarter ended March 31, 2017 (1QFY17) from RM50 million
...More info on site
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World: World barley trade forecast lowered on smaller than expected export from the EU and Russia
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World barley trade is forecast to total 27.205 mln tonnes in 2016/17 versus 27.475 mln in 2015/16, the USDA said in its April report.
...More info on site
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Asia: Kirin Holdings to export its ‘craft’ beers around Asia
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Kirin Holdings Co. plans to export its premium “craft” beers around Asia, starting with Taiwan in mid-May, and have regional demand account for 10 percent of overall sales of the series this fiscal year, Asahi Shimbun reported on April 11.
The beverage giant, citing the products’ high reputation among foreign visitors to Japan, intends to further tap into the overseas market with three products that are part of Grand Kirin series launched in 2012.
One of the beers, Japan Pale Lager (JPL), which went on sale in Japan in March this year, boasts a gorgeous flavor through the use of domestically produced malt and hops, Kirin said.
The JPL’s bottle is covered with cherry blossom designs to give it a Japanese appearance.
A 330-milliliter bottle of JPL will be priced at about 320 yen ($2.90) in Taiwan, twice the cost of Kirin’s mainstay Ichiban Shibori draft beer that is already available on the island.
Despite the higher price, Kirin expects to expand its market around Asia, where rich people, younger customers and others have shifted to alcoholic beverages that boast distinctive tastes and consist of well-selected ingredients.
Kirin plans to start exporting the beers to South Korea and China by around summer. Southeast Asian countries, such
...More info on site
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Japan: Sapporo demands return of tax paid for Goku Zero Drink
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Sapporo Breweries on April 11 filed a lawsuit with the Tokyo District Court demanding the Japanese government return 11.5 billion yen ($104 million) in liquor tax that the brewery paid for its Goku Zero drink, the Nikkei Asian Review reported.
The Japanese brewery introduced the canned, quasi-beer alcoholic drink in 2013 as a "third beer," which is subject to a lower tax rate than regular beer.
The company's standoff with the government began when the National Tax Agency subsequently claimed that the product is "happoshu," another legal definition for quasi beers. This type of beverage is subject to a higher tax rate than third beer but lower than regular beer.
After the agency notified Sapporo of its views, the brewery conceded and suspended shipment of Goku Zero, which was introduced as the first beer of its type that does not contain carbohydrates or purines. It then paid back taxes on the drinks that had already been sold.
The unexpected tax payment forced Sapporo Holdings, Sapporo Breweries parent company, to book an extraordinary loss for the year ended December 2014.
Sapporo Breweries subsequently restarted selling Goku Zero in 2014 after changing its manufacturing method.
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UK & Ireland: Diageo to ‘manage through’ Brexit without disruptions of Guinness supplies
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Drinks giant Diageo has moved to dismiss suggestions it could close its east Belfast Guinness packaging facility if a hard border is introduced post Brexit, The Irish News reported.
Just last month Diageo Ireland's country manager Oliver Loomes argued that a hard border would be “very unwelcome”, but said it would hit suppliers more than the business itself.
He warned small businesses and farms that supply Diageo with milk and barley for its liqueur and beer would face “enormous disruption” and very significant additional costs that could cost jobs.
Diageo has operations north and south of the border and has more reason than most to fear a return to custom posts.
The company, which owns Guinness and Baileys, makes 18,000 border crossings a year and there are fears a hard border could lead to delays and additional cost to its operations in Ireland.
Roughly 13,000 crossings are made transporting Guinness between the St James Gate brewery in Dublin and the east Belfast packaging facility on the Marshalls Road and then to Dublin for worldwide shipping. A similar process is also carried out with Baileys at Diageo's production facility in Mallusk.
Seamus Leheny from the Freight Transport Association (FTA) said a hard border would spell bad news
...More info on site
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UK: BrewDog sells 22% stake to private equity house
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Early investors in “punk” beer firm BrewDog will be able to bank a hefty profit this week. An injection of cash from a private equity house valued the company at £1 bln, 10 years after it began life in its co-founder’s mother’s garage, The Guardian reported on April 9.
San Francisco-based TSG Consumer Partners agreed to buy 22% of BrewDog, whose idiosyncratic beers and international network of bars have won it a cult following, in a deal worth £213 mln.
Some £100 mln will be invested in the business while TSG, which also owns US brewer Pabst, also spent £113 mln buying shares from existing investors, according to the Sunday Times.
Founders James Watt and Martin Dickie are understood to have made £100 mln between them as a result of the deal, a decade after they used a £20,000 bank loan to start brewing in Fraserburgh, Aberdeenshire.
BrewDog’s army of nearly 50,000 “Equity Punks”, its name for investors in four previous rounds of crowdfunding, will be able to sell up to 15% of their shares from this week, the company said.
Watt told investors that they stand make a return of 2,800% if they were among those who bought in at the first opportunity in
...More info on site
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South Africa: AB InBev completes sale of shareholding in Distell Group Limited
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Anheuser-Busch InBev SA/NV on April 12 announced completion of the sale of its entire indirect shareholding in Distell Group Limited to the Public Investment Corporation Limited, acting on behalf of the Government Employees Pension Fund.
The sale was required as a condition of the South African Competition Tribunal’s approval on 30 June 2016 of the business combination between AB InBev and SABMiller.
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India: Carlsberg India launching Tuborg Classic
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Carlsberg India is launching a new version of its Tuborg beer - Tuborg Classic - to further strengthen its strong beer portfolio to compete with rivals United Breweries (UB) and SABMiller, ETRetail.com reported.
Presently launched in Maharashtra, Tuborg Classic will be available in select markets over the next few months.
“Today, consumers appreciate the distinctive quality and taste of premium beers,” said Michael Jensen, managing director of Carlsberg, the third largest player in India. “Keeping in line with the trends, we have launched Tuborg Classic, a brew made with Scotch Malts offering a stronger and smoother taste,” he added.
In beer, UB dominates with 52% market share but Carlsberg has gained the most with 15% share in the last five years giving stiff competition to SABMiller which is at 20%.
“With Tuborg Classic, we aim to further strengthen our commitment to the Indian market and expand our portfolio,” said Mahesh Kanchan, director marketing, Carlsberg.
According to a recent report by Ambit Capital, SABMiller has been losing market share to Carlsberg, which has followed an aggressive on-premise marketing of Tuborg and Carlsberg brands in larger cities through price promotions and branding exercises.
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World: China’s Kweichow Moutai overcomes Diageo and becomes world’s most valuable liquor company
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Chinese alcohol brand Kweichow Moutai, best known for brewing the fiery grain-based drink baijiu, has overtaken Johnnie Walker-brand owner Diageo Plc. to become the world’s most valuable liquor-company, The Financial Times reported on April 10.
Moutai’s market capitalisation reached $71.5 bln on the Shanghai exchange on April 7, while Diageo’s London capitialistion is $71.1 bln. The Chinese company’s share price has soared in the past year as it has seen rising sales from Chinese consumers upgrading to premium brands, and as a culture of business banqueting and gifting has recovered after a fierce crackdown on lavish spending in officialdom.
Baijiu has few fans outside China, and about 95 per cent of Moutai’s sales are from the domestic market. But total baijiu sales values have surged ahead and now account for 37.5% of total global spirits values, according to the Brand Finance’s most recent Spirits 50 report.
Meanwhile, whisky’s value share of the global spirits market shrank from 37 per cent to 28 per cent. More than 90 per cent of Diageo’s revenue was from North America and Europe in the fiscal year to June. Moutai has been able to increase prices, with the retail cost of its Feitian-label rising RMB100 each month for
...More info on site
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Ethiopia: Guinness Beer introduced to Ethiopia’s market
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Guinness Beer, the internationally known stout beer and product of Diageo, has been introduced to Ethiopia’s market at Sheraton Addis on Friday, April 7, 2017, 2merkato reported.
Currently Ethiopia’s total beer consumption stands at 12 million hectolitres of beer per year. This made the Horn of Africa nation a desirable place for multinational companies to invest heavily in the beer industry of Ethiopia.
Diageo entered the Ethiopian market after acquiring Meta Abo Brewery in 2012 through privatization for 225 million USD.
The beer is scheduled to be launched in Addis Ababa on April 14 and expected to reach retailers throughout Ethiopia. The price is also expected to be higher than other local beers, including Heineken which is retailed at 15 Birr.
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Angola: Castel to grow maize in Angola for beer production
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The French group Castel plans to sign in the short term a contract with the Capanda Agro-Industrial Pole Development Company (Sodepac) regarding the concession of a 4,500 hectare property to produce maize, the managing director of Companhia União de Cervejas de Angola (CUCA) stated.
That company was founded on 26 April 1952 and nationalised in May 1976 after Angola’s independence. It was later sold to the French group during the process of privatising public enterprises.
Managing director Pilippe Frederic also said, as reported by the newspaper Jornal de Angola that the maize will be planted on the land on a concession basis and be used to produce beer. The group is one of the major beer produces in both Angola and Africa.
At the end of an audience with the provincial governor Malanje, Norberto dos Santos, Frederic explained that the expected harvest will be 24,000 tons of maize per year.
The Castel group is a family business founded in Bordeaux in 1949 by nine brothers and sisters. It initially focused on the production and worldwide marketing of French wines.
With the acquisition of Brasseries et Glacières Internationales (BGI) in 1990, the group expanded its activity to the beer and beverage business in Francophone Africa and
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