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E-Malt.com Newsletter 18b
May 04 - May 07, 2017
Quote of the Week
There are no facts, only interpretations.
Friedrich Nietzsche
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Currency Rates
Base Currency: US Dollar
on May 05, 2017 |
Base Currency: Canadian Dollar
on May 05, 2017 |
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1 USD = 0.9155 EUR
1 USD = 0.7758 GBP
1 USD = 1.3731 CAD
1 USD = 1.3496 AUD
1 USD = 112.7200 JPY
1 USD = 3.1696 BRL
1 USD = 57.5714 RUB
1 USD = 6.8960 CNY
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1 CAD = 0.7282 USD
1 CAD = 0.5649 GBP
1 CAD = 0.6666 EUR
1 CAD = 0.9827 AUD
1 CAD = 82.0800 JPY
1 CAD = 2.3080 BRL
1 CAD = 42.0279 RUB
1 CAD = 5.0215 CNY
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Currency Rates Chart
Equities of the Largest Breweries
The Netherlands & USA: Heineken buys remaining 50% of Lagunitas Brewing
...Click here
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USA: Hop acreage up 17% in 2016 and may grow by 9.8% this year
...Click here
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USA, OR: Craft Brew Alliance reports Q1 2017 financial results
...Click here
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USA, MO: Alpha Brewing Co. to open second location in downtown St. Louis
...Click here
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USA, MA: Turtle Swamp Brewing ready for soft opening on May 6
...Click here
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Canada, ON: Rhythm & Brews Brewing set to turn to a brick-and-mortar operation
...Click here
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USA, VA: Ober Brewing Co. signs lease to open as Salem’s third brewery
...Click here
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USA, IL: Wake Brewing set to join the Quad-City beer scene
...Click here
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USA, NC: Lincoln Brewing Co. adding brewery and distillery in north Raleigh
...Click here
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USA, VA: Canon & Draw Brewing Co. expected to open in Richmond in fall 2017
...Click here
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USA, WA: Naked City Brewing opens second location on Camano Island
...Click here
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World: AB InBev reports surging profits in the first quarter of this year
...Click here
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World: AB InBev says SABMiller integration ‘continues at a fast pace’
...Click here
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China: Barley imports could reach more than 6 mln tonnes this year
...Click here
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France: Condition of French barley crop declines again
...Click here
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Bulgaria: Carlsberg Bulgaria increases market share by 5% in Q1 2017
...Click here
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South Korea: Sudden increase in beer consumption due to popularity of imported brands
...Click here
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South Africa: AB InBev to launch Budweiser in South Africa
...Click here
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Spain & UK: San Miguel sells record beer volume in the UK last year
...Click here
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The Czech Republic: SABMiller executive Petr Dvorak appointed CEO of Budejovicky Budvar
...Click here
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Graph of the Week
Table of the Week
Africa Barley Imports, Production, Consumption, and Stocks
Prices Evolution
Barley Prices
Theoretical Malt Prices
Scientific Digest
THE TRUE BITTERNESS OF HUMULINONES
ABSTRACT
A couple of recent studies revealed that the increased
bitterness in dry hopped beers is greatly influenced by
the formation of humulinones (oxidized hop alpha-acids). Using previously established synthesis methods and
preparative liquid chromatography, high-purity extracts
of humulinones and hulupones were prepared for
sensory testing. A trained flavour descriptive panel
found humulinones to be 66% as bitter as iso-alpha-acids,
and hulupones to be 84% as bitter as iso-alpha-acids.
This study also found that the bitterness intensity of
humulinones and hulupones are substantially higher
than previous estimates of 35% and 50%, respectively.
Whereas iso-alpha-acids were confirmed to be more bitter
than oxidized alpha-acids and beta-acids, both hulupones and
humulinones were bitter enough to potentially have
a significant impact in beer, especially in dry hopped
beers. The threshold value of humulinones was found
to be around 8 mg/L in unhopped beer.
Algazzali, V.; Bitterness Intensity of Oxidized Hop Acids: Humulinones and Hulupones
Read more
Source: Barth Innovations
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These Days in Business History
04 May
1626 - Indians sell Manhattan Island for $24 in cloth and buttons
1878 - Phonograph shown for 1st time at Grand Opera House
1959 - The 1st Grammy Awards are held
1979 - The first modern leveraged buyout using high-yield junk bonds -- a $381 million deal to take Houdaille Industries private -- is completed by Kohlberg, Kravis, Roberts & Co
05 May
1715 - French manufacturer debuts 1st folding umbrella (Paris)
1921 - Miniature newspaper published (Brighton Gazette 10 x 13 cm)
1949 - Council of Europe forms
06 May
1851 - San Francisco Chamber of Commerce starts
1889 - Universal Exposition opens in Paris, Eiffel Tower completed
1927 - Academy of Motion Picture Arts and Sciences forms
1997 - The Bank of England is given independence from political control, the most significant change in the bank's 300-year history
07 May
1664 - Louis XIV of France inaugurates the Palace of Versailles
1955 - West Europe Union established
1979 - 5th UNCTAD-conference opens in Manila
1982 - IBM releases PC-DOS version 1.1
1998 - Mercedes-Benz buys Chrysler for $40 billion USD and forms DaimlerChrysler in the largest industrial merger in history
Agenda
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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The Netherlands & USA: Heineken buys remaining 50% of Lagunitas Brewing
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Lagunitas Brewing is selling its remaining 50 percent stake to Heineken International, which will place the California and Chicago-based brewery under full control of the world’s second-largest beer company. Heineken first bought half of Lagunitas in September 2015, the Chicago Tribune reported on May 4.
As a result of the deal, Lagunitas will become Heineken’s lead global craft brand, while its founder and executive chairman, Tony Magee, will take on a newly created role as global craft director for the Dutch company. Heineken owns more than 160 breweries worldwide.
“We’ll look to develop meaningful craft strategies and work with Heineken’s companies around the world to develop and deploy craft — good craft brands in the Lagunitas model,” Magee said.
Magee announced the deal to employees in Petaluma, Calif., on May 4 and to customers in a 1,948-word post on Tumblr, which is how he also announced the first sale.
“Some who don’t fully understand it all may say it is selling out,” Magee wrote. “Truth is that we did then, and are now ‘buying in.’ Money has value and equity has value too. I am using Lagunitas’ equity to buy deeper into an organization that will help us go farther more quickly than
...More info on site
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USA: Hop acreage up 17% in 2016 and may grow by 9.8% this year
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Hop acreage in the US has nearly doubled in the last five years driven by consumer tastes for higher hopped beers, despite beer production
...More info on site
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USA, CA: Stone Brewing off to a hot start in 2017
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Stone Brewing is off to a hot start in 2017, reporting 18% growth versus the prior year. Stone Brewing’s performance is far outpacing both the year-to-date, IRI-stated grocery craft category growth of 4.4% and the category’s 52-week growth rate of 6.4%, TheFullPint.com reported on May 2.
Stone Brewing’s explosive growth is fueled by its core beers both familiar and new. First, the familiar stalwart Stone IPA, launched 20 years ago and refreshed just over a year ago, is up 8.2% demonstrating continued opportunity to convert more hop heads to its iconic West Coast style. Relative newcomer, Stone Delicious IPA, launched nationally in 2015, is up a whopping 142% over the same period. Stone buttressed these core beer advancements with two new year-round beers: Stone Ripper and Stone Tangerine Express IPA.
Launched in southern California in December and nationally in January, Stone Ripper is one of the top five new six-packs in US Food according to IRI. And launched in late January, Stone Tangerine Express IPA depletions year-to-date make it both the fifth largest draft IPA brand and the hottest new 22oz.
Rounding out its quarter one performance is Stone’s seasonal mixed pack offering. The Stone All IPA Mixed Pack, including four different IPAs:
...More info on site
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USA, OR: Craft Brew Alliance reports Q1 2017 financial results
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Craft Brew Alliance, Inc. (“CBA”), a leading US craft brewing company, on May 3 announced financial results for the first quarter ended March 31, 2017 and reconfirmed guidance for the full year. CBA reported 14% depletion growth for Kona, a 13% increase in total company net sales, and a robust 640-basis point improvement in total company gross margin, attributing its strong first quarter results to the ongoing advancement of several strategic initiatives, including:
Kona delivered 14% depletion growth in the first quarter despite increasing market competition that continued to put pressure on overall craft beer sales. This depletion growth includes 60% growth in international depletions. As the cornerstone of CBA’s portfolio strategy, Kona’s first quarter growth reflects the national success of Big Wave Golden Ale, which posted a 33% boost in depletions in the quarter, and strong results for its newest national brand Hanalei Island IPA. Hanalei IPA was the top 11th new craft beer launched in the first quarter, as measured in grocery sales by Nielsen.
In the first quarter, CBA continued to focus on unlocking the value from its enhanced agreements with Anheuser-Busch (“AB”) announced last year. The company successfully completed the qualification process to begin brewing in AB’s Fort
...More info on site
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USA, MO: Alpha Brewing Co. to open second location in downtown St. Louis
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St. Louis is a city known for its love affair with breweries and craft beer consumption today. St. Louisans constant demand for brewing company locations, tours, and other kinds of activities has prompted the Alpha Brewing Co. to open a second location in downtown St. Louis, the STL Real Estate News reported on May 5.
Heading south for the next brewing spot, the next location, a 9.500-square-foot space, will be located at 4325-4326 Flyer Avenue in the Tower Grove South. It will be officially open to the public this November. Alpha Brewing Co. is investing approximately $2 million in the space, $1.4 million of which is financing from First Bank of the Lake in Osage Beach.
The company is committed to a second location so they are able to greatly expand production and distribution for meeting the St. Louis demand today. Presently, Alpha brews 200 barrels per year, and the second location will now enable them to expand their production to 1,000 barrels in its first year. The Tower Grove location, which was carefully selected for this capacity, will have the ability to brew up to 10,000 barrels. Alpha Brewing is known by locals
...More info on site
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USA, MA: Turtle Swamp Brewing ready for soft opening on May 6
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Jamaica Plain's first new brewery in a generation is set to open its doors to the public this weekend, BostInno reported on May 4.
Turtle Swamp Brewing is holding a soft open on Saturday, May 6 from noon to 6 p.m., a way for founder Nik Walther to welcome the neighborhood to the new space and finally get some of the fruits of all his labor out into the market.
"We intend to give away some samples of the beer, and sell crowlers (for off-premise consumption), T-shirts and hoodies (which you can put on right away!), and show off our brewing space," Walther said.
Walther said in January the brewery will focus on craft takes on classic beer styles, paying homage to the types of beer that would have been made in JP 100 years ago when there were at least 28 breweries in the neighborhood alone.
"The outside is still very much a construction zone, but the brewery itself is quite nice and humming along," Walther said. "We currently have two beers packaged: the Serendipitous Paler Ale and Nik's Bitter (but Never Angry). We also have two beers fermenting in the tanks which will be ready soon, a Porter and an IPA."
As for
...More info on site
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Canada, ON: Rhythm & Brews Brewing set to turn to a brick-and-mortar operation
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Rhythm & Brews Brewing has announced that it is getting set to make the move from contract brewing to a bricks-and-mortar operation, with a brewery to open later this year in Cambridge, Ontario, Canadian Beer News reported on May 3.
Founded by homebrewer, BJCP judge, Cicerone, Prud’homme Sommelier, and music fan Andrew Byer, Rhythm & Brews launched early last year, and is currently brewing its brands at Junction Craft Brewing in Toronto, with two of them – Signed in Tripel Belgian Tripel and Set The World On Fire Smoked English Ale – being winners of gold and bronze awards respectively at the 2017 Ontario Brewing Awards.
The Cambridge facility is a 4200-square-foot space that is planned to feature a 10 barrel brewhouse, tasting room and retail store, and a live music venue promoting artists of all genres.
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USA, VA: Ober Brewing Co. signs lease to open as Salem’s third brewery
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A couple has signed a lease to open a new brewery in Salem, the Roanoke Times reported on May 15.
Dave and Jennifer Ober are planning to launch Ober Brewing Co. in a former warehouse property at 1443 Lakeside Circle, just off Kessler Mill Road. Dave Ober studied brewing at the Siebel Institute of Technology in Chicago and has been homebrewing for about a decade.
He's worked as a paramedic for more than 20 years but wanted to change things up. He plans to install a 3.5-barrel brewing system in the space, which is about 3,200 square feet. He will use about 2,000 square feet for the taproom and plans to have some music, but no TVs.
"I wanted people to look into each other's face and talk to each other," he said. He also plans to start a beer club for patrons who visit frequently. Ober Brewing is expected to offer a traditional variety of craft beers, but Ober wants to spice some of the selections up. He particularly wants to have more barrel-aged beers than many places offer.
The company signed a lease for the property on Tuesday, May 52, and Ober doesn't expect to open until January.
This will be
...More info on site
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USA, IL: Wake Brewing set to join the Quad-City beer scene
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A new micro-brewery is set to join the Quad-City beer scene in the upcoming months, the Quad City Times reported on May 2.
Wake Brewing, which promises to offer "an eclectic taste" of brews, is on track to open near the end of the July at 2529 5th Ave., Rock Island, according to owner Jason Parris.
He's teaming up with his brother Justen Parris, who will serve as the main brewer.
"There's a uniqueness to what we're going to do that starts with ingredients you won't find commercial beers," Jason Parris, a 42-year-old Davenport resident, said. "It's going to be something different for our area."
Parris, the booking manager at Rock Island Brewing Company, or RIBCO, says his love of craft beer began about 10 years ago, when he got into homebrewing after a stint as a touring musician.
"I would travel and taste beers on either coast. You could really taste different areas of the country," he said. "I figured out that I can make beer, too."
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USA, NC: Lincoln Brewing Co. adding brewery and distillery in north Raleigh
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Lincoln Brewing Co. is growing.
The Fuquay-Varina-based brewery is adding two new spots in Raleigh because they've outgrown their current location, according to a post on the company's Facebook page. The first of the two new locations, a brewery and distillery in the Plantation Point Shopping Center in north Raleigh, will open on May 20.
Lincoln's space in Fuquay-Varina will stay open as a tap room and cellar space for the brewery's new wild and sour fermentation project.
The company's third location, called Honest Abe's Tap Room, will open in Wade Park.
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USA, VA: Canon & Draw Brewing Co. expected to open in Richmond in fall 2017
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The family that brought Chesterfield’s first production craft brewery, Steam Bell Beer Works, has announced the expansion of their award-winning brand with the launch of their second brewery, Brewbound reported on May 4.
Canon & Draw Brewing Co. is expected to open in Richmond in fall 2017 and will be the first brewery in the heart of ‘The Fan’ neighborhood.
The brewery will open with eight beers on tap, including a selection of lagers, saisons and IPAs.
At the helm of the new brewery are siblings, Brad and Brittany Cooper, Chesterfield County natives who both now call Richmond proper home. Founder and Head Brewer, Brad Cooper, will expand his current role as Steam Bell Brewmaster to oversee production and beer portfolio development for Canon & Draw. Brittany Cooper, a partner at Steam Bell, will be leading all brand, partnership and operational efforts at Canon & Draw. Their father, Tom Cooper serves as the Director of Sales and their mother, Connie Cooper, serves as the Director of Finance.
“Customers should expect a different portfolio of beers than they’ve become accustomed to at Steam Bell,” said Brad Cooper, Founder of Steam Bell Beer Works. “We are excited to continue to innovate and experiment with flavors
...More info on site
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USA, MI: Dutch Girl Brewery files for bankruptcy
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Dutch Girl Brewery was in business for less than two years before it abruptly closed in March, MLive reported on May 2.
Less than two months later, on Tuesday, May 2, the company filed for Chapter 7 bankruptcy with the Western District of Michigan Bankruptcy Court.
The filing cited more than $333,000 in liabilities, and about $157,000 in assets.
MLive reached the office of Dutch Girl co-owner Luke Finchem, but he chose not to comment. MLive also left a message with Greg Ekdahl, the attorney listed on the filing.
It is unclear what went wrong with the young brewery.
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USA, WA: Naked City Brewing opens second location on Camano Island
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Naked City Brewing founder Don Webb has always enjoyed island time. Visiting his wife’s sister’s summer house on Camano Island over occasional three-day weekends, Webb would sit in the sun, drink a beer and relax.
“I love how the island feels like a world away, but is a quick drive from Seattle,” Webb said in an interview to The Daily Herald. “It’s nice to have a place that feels familiar but is so different from the city.”
So when Webb and his brewing partner Bryan Miller started thinking about expanding to a second location, Camano Island kept coming to mind. During the week-end of April 22-23, after two years of working on a deal to secure a space and eventually moving in, Naked City Brewing opened its second location at Terry’s Corner on Camano Island.
Naked City Brewing has been one of the most celebrated Seattle breweries since it opened its Greenwood location in 2008. Over the eight-plus years, Naked City’s success has allowed it to expand its space a number of times, including knocking out a wall and taking over an adjoining space and adding a beer garden in their parking lot. But expansion of its Seattle’s location had reached its end,
...More info on site
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USA, CO: Pug Ryan's Brewing Co. changes owners
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Pug Ryan's Brewing Co., situated in the heart of downtown Dillon, has been in the craft brew business since 1997, well before the industry started on a nationwide boom, The Summit Daily reported on May 1.
Like its eponymous outlaw, Pug's has always been a little bit scrappy; in 2003, it became only the second craft brewery in the state to put its beer in cans, and it did so using a manual canner that took three people toiling away at levers to operate.
They've since upgraded to an automated system that increased their daily output from around 80 cases to 400.
"I've always called Pug's the island of misfit toys, and I was always in charge of that island," said Travis Holton, who has co-owned Pug's along with his wife Annie since 1986, when it was only a steakhouse.
Now, the husband and wife team say they've found the right couple to take over that role in John and Judy Jordan, who finalized the deal to buy the brewpub on May 1 for an undisclosed amount.
"We just flat out said we need to find the right people to take Pug's down the road another quarter century, because it's more important than we are,"
...More info on site
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World: AB InBev reports surging profits in the first quarter of this year
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The King of Beers hasn't found a fix yet for Bud Light, MarketWatch reported on May 4.
Anheuser-Busch InBev NV reported surging profit thanks to
...More info on site
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World: Carlsberg posts 5% rise in Q1 revenue
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Carlsberg A/S on May 4 posted a 5% rise in first-quarter revenue as currency gains helped offset a series of business disposals, with the
...More info on site
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Brazil: Ambev’s Q1 profit misses estimates
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Ambev SA, the Latin American unit of Anheuser Busch Inbev NV, missed first-quarter profit estimates on May 4 as rapid growth in costs offset
...More info on site
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World: AB InBev says SABMiller integration ‘continues at a fast pace’
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Anheuser-Busch InBev said on May 4 that its integration of competing brewer SABMiller, which it acquired last year in a $103 billion takeover, captured
...More info on site
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Vietnam: Sabeco’s Q1 new profit up 18.8% yoy
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Saigon Beer, Alcohol and Beverage Corporation (Sabeco) announced its net profit in the first quarter of 2017 rose 18.8 percent year-on-year to 1.12 trillion
...More info on site
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China: Barley imports could reach more than 6 mln tonnes this year
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China’s barley imports in January-February of this year were 1.473 mln tonnes, of which 1.27 mln tonnes from Australia and 0.2 mln tonnes from
...More info on site
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France: Condition of French barley crop declines again
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The condition of French wheat and barley crops declined again last week, farm office FranceAgriMer said on May 5, suggesting a lack of rain was still affecting crops in the European Union's biggest cereal producer.
Dry weather in the past month has raised concern about low moisture levels in France after a very dry winter, although rain has returned to much of France this week.
In its weekly crop report, FranceAgriMer estimated that 74 percent of soft wheat crops were in good or excellent condition as of May 1, compared with 78 percent a week earlier and marking a fourth consecutive weekly decline.
Winter barley was rated 68 percent good or excellent, down from 71 percent a week earlier, while spring barley was rated 77 percent good/excellent against 80 percent in the previous week.
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Bulgaria: Carlsberg Bulgaria increases market share by 5% in Q1 2017
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The Bulgarian unit of Danish brewer Carlsberg said on May 4 its market share in terms of volume grew by 5 percentage points year-on-year
...More info on site
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South Korea: Sudden increase in beer consumption due to popularity of imported brands
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Imported beer sales in South Korea have boomed due to a change in social behavior and a rise in single households, the Drinks International reported on May 4.
According to data by E-Mart, South Korea’s largest retailer, the proportion of beer sales to all alcoholic beverages was 55% in April this year.
Research made by Korea Joongang Daily suggests this dramatic percentage ‘reflects changes in society where more consumers are opting to enjoy light drinks with their families’ instead of ‘binge drinking with colleagues’.
35% of the Korean population live alone and KJD reported that: “The spread of such a trend deriving from growing single households and lone-eaters has also fueled the sale of beer.”
The sudden increase of beer consumption is largely due to the popularity of imported beers, whose sales surged almost 42% to $7.75 million in March and increased by 24.3% in 2016.
According to Korea Customs Service, Korea’s inbound shipments of foreign beers equalled 95,858 tons in 2016, up 34.5% from 2015 and in the same year the country imported 170,919 tons, worth $142 million.
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South Africa: AB InBev to launch Budweiser in South Africa
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Anheuser-Busch InBev plans to launch Budweiser in SA, it said in its March quarter results on May 4.
The group’s overall revenue grew 3.7% to $12.9 bln from the matching quarter in 2016.
Its South African business, gained via its acquisition of SABMiller, grew revenue by "mid-single digits" despite a 1.6% decline in beer volumes.
Anheuser-Busch InBev blamed the drop on "the timing of Easter".
"Castle Lite continues its strong growth in the core plus segment with packaging innovations aimed at improving convenience for in-home consumption. Core brands recovered some of the prior year volume losses to cheap wines and spirits through our commercial initiatives," the company said in its statement.
"The business is well-positioned to grow our global brands, with Stella Artois and Corona already present in the market and plans to launch Budweiser later in the year."
Despite the drop in combined beer volumes, Anheuser-Busch InBev said the "SAB integration continues at a fast pace, with $252 mln of synergies captured in the quarter".
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Spain & UK: San Miguel sells record beer volume in the UK last year
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UK consumers sure love a good Spanish beer. In fact, San Miguel is so popular that sales are on the rise, up by an impressive 9% year-on-year in 2016. As a result, the UK remains one of the company’s top markets, along with Spain, Germany, Italy, and the Nordic countries, Foods and Wines from Spain reported on May 5.
San Miguel in fact sold more than 1,000,000 hectolitres in the UK last year—a new record, it is reported.
The company expects this trend to continue this year and attributes part of the stellar performance to the boom in tourism. Hotel occupancy numbers during Holy Week were extremely positive and expectations are just as high for summer. In fact, Mahou sales expanded by 1.7% in the first quarter of 2017.
The company is looking to expand, and is especially interested in the US market and craft beers, though its managing director notes that there’s no rush and that they’re looking for the right opportunity. At the moment, it exports to over 70 countries worldwide.
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The Czech Republic: SABMiller executive Petr Dvorak appointed CEO of Budejovicky Budvar
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Czech brewer Budejovicky Budvar has appointed former SABMiller executive Petr Dvorak as its new chief executive according to local media.
Dvorak is set to start in his new role immediately, having previously worked as SAB's global brand director for Pilsner Urquell.
Former Budvar CEO Jiri Bocek stepped aside last year due to health reasons, and Petr Zacek has been in place as interim CEO since 1 June 2016.
Last year, Budejovicky Budvar produced what it says was a 'record volume' of beer - a total of 1.615 million hectolitres. This represented a 0.8% year-on-year increase on its 2015 total. In April, the company reported that it has now reached maximum capacity in its facilities.
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India: Mahou India appoints new CEO
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Mahou India, a subsidiary of Spanish brewing major Mahou San Miguel, said on May 4 it has appointed Fernando Bustamante as its Chief Executive Officer.
Bustamante takes over from Erik d'Auchamp, who has been elevated as Managing Director, Mahou San Miguel, a role based out of Madrid, Spain.
"India is one of the most competitive beer markets in the world and I hope to drive the business further ahead by building on innovation to give new dimensions to the beer drinking culture in India," Bustamante said.
A graduate in Law from San Pablo CEU University, Fernando has been working with Mahou San Miguel since 1991 in several capacities, and has spent the last 26 years holding various managerial positions in on and off trade business in Spain.
"As we prepare for the next phase of growth, I am confident that Fernando with his proven abilities will be able to lead and build the organisation for future," Erik said.
Mahou Indias portfolio includes three products: Mahou 5 Star, Mahou Clasica and Dare Devil, currently present in 16 states.
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