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E-Malt.com Newsletter 49a
December 04 - December 06, 2023
Quote of the Week
Success is stumbling from failure to failure with no loss of enthusiasm.
Winston Churchill
Currency Rates
Base Currency: US Dollar
on December 06, 2023 |
Base Currency: Canadian Dollar
on December 06, 2023 |
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1 USD = 0.9243 EUR
1 USD = 0.7925 GBP
1 USD = 1.3568 CAD
1 USD = 1.5215 AUD
1 USD = 147.0880 JPY
1 USD = 4.9410 BRL
1 USD = 90.9607 RUB
1 USD = 7.1388 CNY
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1 CAD = 0.7369 USD
1 CAD = 0.5840 GBP
1 CAD = 0.6812 EUR
1 CAD = 1.1212 AUD
1 CAD = 108.3910 JPY
1 CAD = 3.6411 BRL
1 CAD = 67.0300 RUB
1 CAD = 5.2607 CNY
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Currency Rates Chart
Equities of the Largest Breweries
USA: Beer purchasing stabilizes to close out the year, but craft still at low levels
...Click here
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USA: Volatility in beer driven by decline in consumer interest in lower-value beers, Constellation Brands CFO says
...Click here
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USA, CO: Westbound & Down Brewing Co. announces acquisition of Aspen Brewing Co. and Capitol Creek Brewery
...Click here
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Canada, ON: Laylow Brewery closing down its space in Brockton Village
...Click here
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USA, WA: Cheeky Monkey acquiring fellow WA brewing operation Sound Brewing Co.
...Click here
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USA, RI: Iron Stag Brewing delays opening to next summer
...Click here
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USA, PA: Brass Collar Brewing preparing to open its doors in Souderton
...Click here
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Canada, BC: Burnaby’s Studio Brewing to shut down in three weeks
...Click here
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USA, WA: Badger Mountain Brewing announces impending permanent closure
...Click here
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USA, MN: Lakes & Legends Brewing Company closing after eight years in business
...Click here
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EU: Usable barley production forecast cut again by EU Commission
...Click here
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India: United Breweries expecting mid- to high single-digit beer market growth
...Click here
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Australia: Barley crop estimates up 6.1% in ABARES December report
...Click here
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UK: Craft brewers speak up about reality of cost pressures
...Click here
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World: Diageo reportedly seeking beer portfolio sale, except for flagship Guinness
...Click here
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World: Diageo still getting downgrades following profit warnings last month
...Click here
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France: Cereal sowing makes little progress again due to record amount of rain
...Click here
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UK: Carlsberg Marston's Brewing Company set to close Ringwood Brewery on lack of buyers’ interest
...Click here
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Malaysia & Singapore: Carlsberg Brewery Malaysia Bhd to produce Sapporo Premium Beer for distribution in Malaysia and Singapore
...Click here
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India: Maker of Bira 91 beer plans to raise new round of funds
...Click here
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Graph of the Week
Table of the Week
World Barley Supply & Demand 2017 - 2024f
Prices Evolution
Barley Prices
Theoretical Malt Prices
These Days in Business History
04 December
1619 - America's 1st Thanksgiving Day (Va)
1791 - Britain's Observer, oldest Sunday newspaper in world, 1st published
1851 - President Louis Napoleon Bonaparte forces crush a coup d'etat in France
1930 - Vatican approves rhythm method for birth control
1933 - Franklin Roosevelt creates Federal Alcohol Control Administration
05 December
1492 - Christopher Columbus discovers Hispaniola (El Espanola/Haiti)
1791 - Wolfgang Amadeus Mozart, composer, dies in Vienna Austria at 35
1792 - George Washington re-elected U.S. pres
1879 - 1st automatic telephone switching system patented
1880 - Blue Jeans are invented
1880 - Walter Elias Disney was born, Chicago IL, animator (father of Mickey Mouse)
1978 - European Union establishes EMS, European Monetary System
1985 - Dow Jones Industrial Average rises above the 1,500 level for 1st time
1989 - France TGV train reaches world record speed of 482.4 kph
06 December
1492 - Haiti discovered by Columbus, at Mole Saint Nicolas
1768 - 1st edition of "Encyclopedia Brittanica" published (Scotland)
1877 - Washington Post publishes 1st edition
1922 - 1st electric power line commercial carrier in U.S., Utica, New York
Agenda
December 2023:
06 - 08: Drink Japan 2023 (Makuhari Messe, Japan)
February 2024:
01 - 02: Glug Swiss 2024 (Alte Reithalle, Aarau, Switzerland)
09 - 12: HoReCa 2024 (Athens, Greece)
18 - 21: Beer & Food Attraction 2024 (Rimini, Italy)
23 - 25: Finest Spirits 2024 (Munich, Germany)
March 2024:
13 - 15: 108 International Brewing & Engineering Congress 2024 (Groningen, the Netherlands)
13 - 14: BeerX 2024 (Liverpool, UK)
22 - 23: InnBrew 2024 (Barcelona, Spain)
22 - 24: St Malo Craft Beer Expo 2024 (St Malo, France)
April 2024:
11 - 13: KIBEX 2024 (Seoul, South Korea)
21 - 24: Craft Brewers Conference & BrewExpo America 2024 (Las Vegas, USA)
24 - 24: World Beer Cup 2024 (Las Vegas, USA)
May 2024:
20 - 26: Budapest Beer Week 2024 (Budapest, Hungary)
24 - 26: Cerveza Mexico Expo 2024 (Guadalajara, Mexico)
24 - 26: Mondial de la Biere 2024 (Montreal, Canada)
26 - 30: The Brewers of Europe Forum 2024 (Lille, France)
30 - 01 June: Craft Beer China 2024 (Shanghai, China)
June 2024:
06 - 09: Wiener Bierfest 2024 (Vienna, Austria)
11 - 13: Brasil Brau 2024 (Sao Paulo, Brazil)
August 2024:
08 - 10: VIETFOOD & BEVERAGE - VIETNAM 2024 (Saigon Exhibitions and Conventions Center, 799 Nguyen Van Linh Street, District 7, HoChiMinh City, Vietnam)
September 2024:
14 - 15: Bruges Beer Festival 2024 (Bruges, Belgium)
News Articles
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USA: Beer purchasing stabilizes to close out the year, but craft still at low levels
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The US beer industry is closing a turbulent year with signs of a more stable and predictable ordering environment ahead, says the National Beer Wholesalers Association (NBWA), pointing to the Beer Purchasers’ Index (BPI) 13-point YoY jump in November to 51. The same can’t really be said for craft beer, specifically, the Craft Brewing Business reported on December 5.
The BPI is the only forward-looking indicator for distributors to measure expected beer demand. The index surveys beer distributors’ purchases across different segments and compares them to previous years. A reading greater than 50 indicates the segment is expanding, while a reading below 50 indicates the segment is contracting.
Coupling that 51 in November with an At Risk Inventory measure of 42, indicating low inventory levels, the data suggests a neutral stance for the industry — a marked improvement over the contractionary reading from last year.
The craft index though, at 26 for November 2023, continues to signal contraction in this segment; the tally is about the same as the November 2022 reading at 25.
Ordering trends were positive for six of the seven measured segments, led by 18-point and 12-point YoY increases for Premium Regular and Premium Lights, respectively. The Imports segment continued its
...More info on site
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USA: Volatility in beer driven by decline in consumer interest in lower-value beers, Constellation Brands CFO says
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Volatility in beer is being driven by a decline in consumer interest in lower-value brews and growing interest in higher-end options, Garth Hankinson, Constellation Brands’ executive vice president and CFO, told Wall Street investors at a conference, Food Dive reported on December 6.
Hankinson said the buy rate of the premium alcohol category is up year-over-year. This indicates consumers see pricier drinks as an “affordable luxury” they are more willing to spend money on despite the run-up in inflation.
As the beer category continues to struggle, alcohol giants are pivoting to higher-end offerings to meet consumer demand.
Despite continued inflation and an unstable economy, Hankinson said consumers looking to cut back are not abstaining from premium booze purchases. This stands in contrast to what some industry analysts have reported recently.
He cited Circana data showing the price of food is 4% to 5% higher than usual, compared to only 1% to 2% in alcohol.
“Alcohol is not a big driver of their costs and probably not a place where [consumers are] going to compromise,” Hankinson said.
The executive told investors the company has thrived despite the inflationary environment and has been gaining shelf space.
Constellation expects top-line growth of 8% to 9% for its 2024 fiscal year,
...More info on site
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USA, CO: Westbound & Down Brewing Co. announces acquisition of Aspen Brewing Co. and Capitol Creek Brewery
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Colorado’s most decorated brewery at the 2023 Great American Beer Festival (GABF) recently celebrated another significant milestone. Fresh off of earning a bronze, silver, and gold medal at this year’s GABF competition, Westbound & Down Brewing Co. (W&D) announced that it has acquired Aspen Brewing Co. and Capitol Creek Brewery from High Country Brewing LLC, Craft Brewing Business reported on December 4.
This complete acquisition of two Roaring Fork Valley brewing staples includes Aspen Brewing’s 7,000-bbl capacity production facility located at 404 Aspen Airport Business Center and its Aspen Tap brewpub location in downtown Aspen, along with Capitol Creek Brewery’s brewpub located in Basalt’s Willits Town Center.
“Aspen Brewing’s location and long-standing, dedicated fan base and Capitol Creek’s fresh look and dedication to high-quality food and beer were both attractive out of the gate,” said Jake Gardner, director of brewery operations and operating partner for Westbound & Down Brewing. “In getting to know key personnel on the brew staff at Capitol Creek, as well as amazing leadership in the food and hospitality program there, we immediately felt like it would be a natural fit for what we’ve been building at Westbound & Down.”
The addition of Aspen Brewing and Capitol Creek Brewery builds
...More info on site
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Canada, ON: Laylow Brewery closing down its space in Brockton Village
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After seven and a half years in business, a Toronto brewery is closing down its brick and mortar space in Brockton Village, blogTO reported.
Laylow Brewery, located at 1144 College St, recently announced that its last night will be on December 22, 2023.
"It hasn't been an easy decision," says Laylow's owner Daniel Boniferro.
Boniferro says the team thought about selling the lease back in 2020. At the time, they were thinking about how the restaurant industry would change during and after the worldwide pandemic.
"It put a lot of things into perspective," he says. "The power of music for us, is a big thing. And being social is how we live."
At the same time, Laylow's brand was changing, Boniferro says. Rather than just being known as a local brewery that brewed beer on its kitchen stove stop, it also became known as a champion for the arts and music scene, where hip-hop, jazz and poetry nights often occurred.
"I just believe in the arts scene so much. Growing up in this city, with so much live music, I don't want it to go away," Boniferro told blogTO. "There's been a hip-hop, jazz and poetry renaissance in our city."
At the same time, repayments for the
...More info on site
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USA, WA: Cheeky Monkey acquiring fellow WA brewing operation Sound Brewing Co.
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There's been another significant move in the local beer world with Cheeky Monkey acquiring fellow WA brewing operation Sound Brewing Co. The announcement comes less than three months after the Rockingham-based brewpub entered administration and gives Cheeky Monkey a third venue – and their first in the Perth Metro region, The Crafty Pint reported on December 3.
For the time being, the brewpub will continue to operate under the Sound Brewing Co banner – although anyone that's visited recently will have noticed a significant increase in the volume of Cheeky Monkey beers and seltzers on offer there. In the middle of 2024, significant renovations will take place to turn it into a Cheeky Monkey venue, joining the South West brewers original home on the famed Caves Road and the taphouse at their production brewery in Vasse.
While ownership of the Rockingham venue which only opened in 2022 is changing, all employees in place when Sound Brewing Co's parent company Bragu went into voluntary administration in September have been offered the chance to continue in their roles.
"We worked pretty hard with the administrators so they could keep running the venue until the liquor licence comes through so we can retain all of the
...More info on site
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USA, RI: Iron Stag Brewing delays opening to next summer
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Cranston's newest nanobrewery, Iron Stag Brewing, was supposed to open this summer, turning the side of its building on Rolfe Square into a patio and hangout space, The Providence Journal reported on December 4.
Steel beams outlined future rooms. Inside, there was a Frankenstein-style brewing system with parts sourced from across the Northeast. There were even taps and steel girders and a space for brewing beer.
But that opening has been delayed to at least next summer by an old problem that only recently has come to the forefront among the small breweries and brewpubs that have started to proliferate across the state: wastewater. Cranston's wastewater-treatment department wants Iron Stag Brewing to clean its wastewater before it hits the drains.
Each barrel of beer (about 31 gallons) produces about seven barrels of wastewater, according to the Brewers Association. After evaporation, about 70% of that wastewater is left. For years, that wastewater went straight to the sewage treatment system, but the byproducts of beer are both acidic and filled with far more nutrients than residential wastewater.
"Some of the remediations required are pretty costly," said A.J. Kilroy, the brewery's president.
To get the wastewater to the right pH, the first quote Kilroy received was $80,000 –
...More info on site
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USA, PA: Brass Collar Brewing preparing to open its doors in Souderton
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Brass Collar Brewing is preparing to open its doors in a historic train station building in Souderton next month, writes Michele Haddon for the Bucks County Courier Times.
The opening of the taproom will add to the town’s ongoing revitalization efforts and will turn the historic station into a destination itself.
Owners Ben Israel and Brody Bisson have been working on opening their own taproom for the last three years. They started contract brewing and distributing their beers in the summer of 2020 under the name Radiant Beer Project.
The business partners fell in love with Souderton – a town built on two railroads merging – when they were looking for a place for their new taproom.
They recently rebranded to Brass Collar Brewing as a reference to high-ranking railroad officials in homage to their new home.
“We wanted to go with that theme since it was more reflective of that community,” said Israel. “Especially being the first brewery in Souderton, we wanted to show the town we have their back and show that appreciation.”
Once it opens, the new taproom will have outdoor and enclosed patios, an indoor taproom, a production area, and a kitchen.
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Canada, BC: Burnaby’s Studio Brewing to shut down in three weeks
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Studio Brewing, one of only three breweries in Burnaby, will shut down in three weeks, Burnaby Now reported on December 2.
The brewery posted the news on its Instagram account Saturday, Dec. 2.
"It's with the heaviest of hearts we announce that Studio Brewing will be closing permanently," the post stated.
Studio Brewing's last day will be Friday, Dec. 22 after three years in business.
"These challenging times have unfortunately been too much for our little business to survive, much less thrive, but we hold our heads high knowing we did everything we could."
The post cited costly delays, consumer preferences moving away from craft beer, and challenging economic times as reasons for the closure.
"It was a dream of ours to find an underserved area, set up shop and begin to hone our craft, while bringing people together and strengthening out community. There are many others like us out there, and we ask that you please support your local craft brewery - it's tough out there and it means more than you know."
The post thanked the brewery's staff and customers.
"Gutting!" wrote one social media user in a comment on the post. "South Burnaby is gonna suck without you all."
"Heartbreaking," said another. "So sorry to hear
...More info on site
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USA, WA: Badger Mountain Brewing announces impending permanent closure
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Badger Mountain Brewing, owned by brewery-enthusiast Dave Quick, took to Facebook on Saturday, December 2 to announce that the business will be permanently closing its doors, NCWLIFE.com reported.
“Impacts of the pandemic, inflation, declining sales since 2019 and a highly competitive market left us with no choice but to make this sad decision to close our doors January 1st,” read the Facebook post.
The business will be hosting a sale now through the end of the year, offering half-off all kegs, glassware, growler fills and merchandise. All gift cards are also useable through the end of the year.
“We are grateful for our employees and guests who share so much passion for our brand, for their commitment and all that they have done to build and care for this beloved brewery. The memories we’ve made over the last decade, and the connections we’ve shared with our crew and guests, will always be cherished,” said the business.
The business first opened in 2013.
Badger Mountain Brewing is located at 1 Orondo Avenue and is open 3 p.m. to 9 p.m. Monday through Thursday, 3 p.m. to 10 p.m. Friday, 11:30 a.m. to 10 p.m. Saturday and closed Sunday.
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USA, MN: Lakes & Legends Brewing Company closing after eight years in business
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After nearly a decade in operation, Lakes & Legends Brewing Company has announced it is closing, Fox 9 reported on December 4.
An announcement on its Facebook page declared an "END OF AN ERA" for the taproom located in the Loring Park neighborhood of Minneapolis for the last eight years.
"A lifetime of memories made, but all adventures have endings," the post reads, while giving a nod to, "Hundreds of team members… tens of thousands of guests… and countless ‘fur-friends’ hosted and adopted," among its awards won, beers created and money donated to community initiatives.
According to the announcement, the taproom will close at the end of the year, but will "go out on a high note" with an eighth anniversary "going out in style" party for patrons.
Among the offerings at its location, the company was often a staple at the annual Minnesota State Fair.
On its site, the taproom was said to, "Prioritize local farming partners as often as possible, celebrating local flavors from Minnesota Grown ingredients."
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EU: Usable barley production forecast cut again by EU Commission
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The European Commission on November 30 cut its monthly forecast of European Union stocks of common wheat, or soft wheat, mainly due to an
...More info on site
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India: United Breweries expecting mid- to high single-digit beer market growth
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Top beverage company United Breweries is expecting a mid to high single-digit growth in India's beer market, per CEO Vivek Gupta, NewBytes reported on December 6.
With beer currently having low penetration in both urban and rural areas, Gupta sees a big opportunity for expansion.
In an interview with CNBC-TV18, he said, "My goal is to lead the category growth in India. We are fortunate to delight almost 60% of the consumers in this category, and we continue to expand our lead, bringing great innovation."
Gupta says competition will help increase market penetration. He thinks that as more companies enter the beer market, more people will talk about beer, leading to higher penetration.
Gupta sees a chance to introduce entry-level beer in India, stating, "India still has a spirits-dominated market, with 80-85% consumers drinking hard liquor."
"There is an opportunity to have an entry-level beer, a premium beer, and even more aspirational beer and global brands in India," he adds.
United Breweries predicts its premium business will grow by 40-45% next year.
This follows the recent launch of Heineken Silver Draught beer in India, aimed at offering consumers a premium, smooth-tasting drink.
Avendus Capital Public Markets Alternate Strategies observed a significant shift toward high-end beverages, both alcoholic and
...More info on site
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Australia: Barley crop estimates up 6.1% in ABARES December report
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Australia is forecast to produce 25.5 million tonnes (Mt) of wheat, 11.1Mt of barley and 5.5Mt of canola, according to estimates released by ABARES
...More info on site
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UK: Craft brewers speak up about reality of cost pressures
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UK craft brewers have spoken up about the reality of the cost pressures, lack of government support and in the future of their businesses.
Steve Dunkley head brewer at Beer Nouveau told the drinks business: “Everything at the moment is a cost pressure. Everything that a brewery buys in has gone up in price. Every overhead a brewery has increased beyond planned budgets.”
Dunkley revealed that the new Duty system has “benefited the larger family and regional brewers who brew a core of low to mid strength beer, and nothing else, and has really benefitted the large multinationals, but at the cost of the micro/craft brewers”.
Essentially, the smaller independent businesses are feeling the squeeze and are under a lot of pressure, a situation not helped by the lack of clarity the end consumer has over the challenges.
Julie O’Grady, co-founder of Neptune Brewery, based in Liverpool, said: “Most people don’t think of the costs included in producing beer, as they are hidden, such as staffing, duty, transport, cost of ingredients etc as to why their beer may costs the price it does.”
Understandably, everyone is feeling the pinch, but as Dunkley points out, this is having an adverse effect on how much everyone can
...More info on site
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World: Diageo reportedly seeking beer portfolio sale, except for flagship Guinness
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Diageo, the world's largest spirits maker, is seeking to divest its beer portfolio, except for flagship brand Guinness, Axios reported on December 5, citing sources familiar with the firm.
Beer sales of 3.36 billion pounds ($4.23 billion) accounted for just over 14% of total sales at Diageo for the year ended June 30, whereas Spirits sales contributed a mammoth 81%.
Diageo is looking to sell beer brands including Smithwick's, Kilkenny and Harp Lager, based in Ireland, and Tusker in Kenya, among others, Axios reported.
Diageo did not immediately respond to Reuters' request for comment on the report.
The Johnnie Walker whisky maker in November warned of a drop in first-half operating profit growth on weakness in some regions.
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World: Diageo still getting downgrades following profit warnings last month
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Diageo PLC is still getting downgrades following its warning last month, with both RBC and Deutsche Bank suggesting there is more disappointment to come from the beer and spirits group, Proactive Investors reported on December 4.
With its 5-7% revenue growth guidance under threat, the 5-7% profit growth goal is likewise too high, says RBC, adding that’s before even considering the prospect of additional excessive inventory in the supply chain.
If sales do undershoot, two big drivers of recent margin growth – operational gearing and mix from portfolio - will be much less of a factor.
In any event, Diageo’s credibility and investors' perception of the visibility/predictability of growth have been bruised.
RBC’s target price drops to £25 with an 'underperform' rating.
Deutsche Bank, too, is worried about the possibility of more downgrades to come, hence its 'sell' rating and target price of £24.70, down from £25.50p.
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France: Cereal sowing makes little progress again due to record amount of rain
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French cereal sowings had again made little progress last week while crop ratings extended their fall, farm office FranceAgriMer data showed on December 1, in a sign that heavy rainfall since last month has taken a toll on crops, Business Recorder reported.
Farmers had sown 82% of the expected soft wheat area for next year’s harvest in the European Union’s largest grower by Nov. 27, FranceAgriMer said in a crop report. That was up from 74% last week, but well behind the 99% sown by the same stage last year and a five-year average of 95%.
Soft wheat sowings traditionally advance by 15% to 20% per week in France but have made little progress in previous weeks due to wet weather.
France has experienced record amounts of rain between mid-October and mid-November and the weather has continued to remain wet since. Some large grain producing regions have recorded showers nearly every day, while heavy rainfall in the north flooded fields.
The amount of soft wheat in good or excellent condition stood at 80%, down from 83% last week and 91% three weeks earlier, FranceAgriMer said. Winter barley sowings were 92% by November 27, compared with 86% the previous week.
They were over by the same
...More info on site
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Kenya: EABL opens a new microbrewery in Kenya
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East African Breweries Plc (EABL) has opened a new microbrewery to tap into the craft beer market.
The new microbrewery at Ruaraka, Nairobi is set to serve as an innovation centre for the ever-growing appetite for craft beer which has in the last couple of years taken a liking from drinkers, most of whom do not like the taste of traditional beer.
The new microbrewery is expected to help the brewer, which is controlled by Britain’s Diageo and is known for its flagship Tusker beer, to test the niche market for craft beer which analysts say has until recently been ignored by major brewers globally.
Jane Karuku, EABL managing director said that the craft beer market has potential for growth in Kenya adding that EABL is mindful of the craft beer trend.
“It is a good day as we launch the new microbrewery after 18 months of construction. It gives us the flexibility of producing small innovative brands,” she said during the launch.
The production process of craft beer can take from 14 days to several months depending on the type of alcohol. They can be more full-bodied with richer flavours than other beers because brewers use different hops and malts such as fruit-based
...More info on site
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UK: Carlsberg Marston's Brewing Company set to close Ringwood Brewery on lack of buyers’ interest
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Ringwood Brewery is set to close after its owners were unable to sell the operation, The Southern Daily Echo reported on December 4.
The Carlsberg Marston's Brewing Company (CMBC) put the Hampshire brewery and shop sites up for sale but no one has come forward with an acceptable offer to buy it in the last six months.
Best known for its cask ales and boar mascot present across all the brewery’s beers, Ringwood Brewery was founded in 1978, and after outgrowing its original premises, moved to the current site in Christchurch Road in 1986.
Production of the Ringwood ale brands will be moved to other breweries within the CMBC network and Ringwood Brewery will close in January, 2024.
Brewing for the cask variants of Razorback, Fortyniner and Boondoggle would be moved to Banks’s Brewery, while Old Thumper cask brewing would go to Marston’s Brewery.
Razorback, Boondoggle and Fortyniner bottles are already brewed at the Marston’s site.
The logistics side of the operation has already been moved to CMBC’s Tiverton and Farnborough sites.
In the coming weeks, the company will consult on the proposals with the 10 workers on the site, during which time Ringwood Brewery will continue to operate.
CMBC CEO Paul Davies said: "Having, over the last
...More info on site
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Malaysia & Singapore: Carlsberg Brewery Malaysia Bhd to produce Sapporo Premium Beer for distribution in Malaysia and Singapore
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Carlsberg Brewery Malaysia Bhd said it has entered into a deal with Japan’s Sapporo Breweries Ltd to produce the Sapporo Premium Beer for distribution in Malaysia and Singapore, The Edge Malaysia reported on December 5.
The group said it secured the licence from Sapporo, which is listed on the Tokyo Stock Exchange with over 140 years of beer brewing history globally, to brew and manufacture Japan’s pioneer beer in Malaysia, effective Jan 1, 2024, for five years, with an automatic renewal for a further three years.
The group will produce and sell the beer across all channels in the country, including duty-free zones, said Carlsberg Brewery in a statement.
Meanwhile, the group’s wholly owned unit Carlsberg Singapore Pte Ltd and its subsidiary Maybev Pte Ltd will distribute the Sapporo Premium Beer and Yebisu Beer in Singapore.
This distributor agreement will also be effective for five years starting from Jan 1, with an automatic renewal for one year.
“Having the licence and distribution rights for Sapporo Premium Beer in Malaysia and Singapore is a testament to our brewing excellence standards and commitment toward product innovation," said Carlsberg Brewery managing director Stefano Clini.
He added: “We are confident that Sapporo Premium Beer will complement our premium
...More info on site
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India: Maker of Bira 91 beer plans to raise new round of funds
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B9 Beverages, the maker of Bira 91 beer plans to raise Rs. 400 crore in fresh funding. The funds are set to come from existing investors as well as a new one. The current investors include Japan's Kirin Holdings, Sequoia Capital and Sofina of Belgium. The company plans to raise finds to expand its current business, Storyboard18 reported on December 5.
This will count for the third round of fund-raising for B9 Beverages in 13 months.
Bira91’s current portfolio includes craft, lager and strong beer with products such as Bira White, Gold and Boom, besides cider ale and seltzers. The investment will be used to increase the capacity of distribution of their current range of products and expand Bira 91 Taproom chains and their Beer Cafe’s.
Bira 91 is currently valued at $550-$600 million.
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