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E-Malt.com Newsletter 34a
August 19 - August 21, 2024
Quote of the Week
Amateurs sit around and wait for inspiration. The rest of us just get up and go to work.
Stephen King
Currency Rates
Base Currency: US Dollar
on August 21, 2024 |
Base Currency: Canadian Dollar
on August 21, 2024 |
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1 USD = 0.9011 EUR
1 USD = 0.7686 GBP
1 USD = 1.3625 CAD
1 USD = 1.4849 AUD
1 USD = 146.1030 JPY
1 USD = 5.4372 BRL
1 USD = 90.7467 RUB
1 USD = 7.1242 CNY
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1 CAD = 0.7338 USD
1 CAD = 0.5640 GBP
1 CAD = 0.6612 EUR
1 CAD = 1.0896 AUD
1 CAD = 107.2140 JPY
1 CAD = 3.9899 BRL
1 CAD = 66.5922 RUB
1 CAD = 5.2279 CNY
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Currency Rates Chart
Equities of the Largest Breweries
USA: Alcohol consumption remains steady despite growing health concerns, survey finds
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USA: Beer sales sluggish during the last four-week period
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Canada: 2023-24 barley use forecast on par with the year prior
...Click here
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USA, PA: Source Urban Brewing to open its third location in Philadelphia
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USA, MO: Friendship Brewing Company holds grand opening in Hannibal
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USA, MD: BabyCat Brewery to open a second location in Bethesda
...Click here
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USA, MA: AB InBev laying off nearly 200 Massachusetts employees
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USA, MA: The Cambridge Brewing Company to close in December after 35 years in business
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Canada, BC: Victoria’s iconic Swans Brewery to close
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USA, AZ: FireTruck Brewing’s location in Oro Valley permanently closed
...Click here
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China: Beer market loses fizz as drinkers opt for cheaper brews
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China: China Resources Beer reports increase in net income in H1 2024
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Ireland: Alcohol consumption down in Ireland with beer accounting for 42.9% of the market
...Click here
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Malaysia: Carlsberg Brewery Malaysia’s net profit slips 10% in Q2 this year
...Click here
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Vietnam: Carlsberg continues to record growth in Vietnam despite declining market
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Australia: Solid demand from Latin America bolsters Australia’s malting barley premium
...Click here
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UK: Winter barley yields generally proving disappointing in the UK
...Click here
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France: Spring barley condition dips 1%, 91% of harvest completed
...Click here
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South Africa: Heineken’s R6bn brewery heads to Pietermaritzburg
...Click here
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India: Diageo submits financial documents in probe of India unit
...Click here
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South Korea: Non-alcoholic and low-calory liquor gaining popularity in Korea
...Click here
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Japan: Major beer makers rushing to develop rain- and heat-resistant ingredients
...Click here
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Graph of the Week
Table of the Week
Australia Malt Exports 2019-2023
Prices Evolution
Barley Prices
Theoretical Malt Prices
These Days in Business History
19 August
1888 - 1st beauty contest (Spa, Belgium), 18 year old West Indian wins
1897 - 1st electric taxi's drive in London
1946 - Bill Clinton was born, the 42nd US President. (Former Little Rock Attorney)
20 August
1741 - Alaska discovered by Danish explorer Vitus Bering
1896 - Dial telephone patented
1960 - USSR recovers 2 dogs, 1st living organisms to return from space
21 August
1897 - Oldsmobile begins operation as a General Motors Corp division
1975 - U.S. lightens trade embargo against Cuba
1991 - Communist coup is crushed in U.S.S.R. in 2 days
Agenda
August 2024:
23 - 24: Beervana 2024 (Wellington, New Zealand)
September 2024:
02 - 04: 14th Iberoamerican VLB Symposium Brewing & Filling Technology (IBS) (Ciudad de Mexico (CDMX), Mexico)
05 - 07: Stockholm Beer & Whisky Festival 2024 (Stockholm, Sweden)
14 - 15: Bruges Beer Festival 2024 (Bruges, Belgium)
21 - 06 October: Oktoberfest 2024 (Munich, Germany)
28 - 30: Whisky Live Paris 2024 (Paris, France)
October 2024:
03 - 04: Brew Asia 2024 (Suntec Convention & Exhibition Centre, Singapore)
10 - 13: Mondial de la Biere Rio 2024 (Rio de Janeiro, Brazil)
17 - 19: Warsaw Beer Festival 2024 (Warsaw, Poland)
23 - 25: Drink Technology India 2024 (Bombay Exhibition Centre, Mumbai, India)
28 - 31: China Brew 2024 China Beverage 2024 (Shanghai, China)
November 2024:
22 - 22: Drink Japan 2024 (Makuhari Messe, Japan)
26 - 28: Brau Beviale 2024 (Nuremberg, Germany)
February 2025:
06 - 07: Glug Swiss 2025 (Alte Reithalle, Aarau, Switzerland)
07 - 10: HoReCa 2025 (Athens, Greece)
16 - 18: BBTech Expo 2025 (Rimini, Italy)
21 - 23: Finest Spirits 2025 (Munich, Germany)
March 2025:
03 - 07: IBD Asia Pacific Convention 2025 (Hobart, Tasmania)
12 - 15: Festival Brasileiro da Cerveja 2025 (Blumenau, Brazil)
19 - 20: BeerX 2025 (Liverpool, UK)
25 - 27: Expo Antad & Alimentaria Mexico 2025 (Expo Guadalajara, Jalisco, Mexico)
April 2025:
03 - 05: Warsaw Beer Festival 2025 (Warsaw, Poland)
06 - 08: Planete Biere 2025 (Paris, France)
06 - 09: 15th International Trends in Brewing 'Beer & Society' 2025 (Leuven, Belgium)
10 - 12: KIBEX 2025 (Seoul, South Korea)
11 - 12: InnBrew 2025 (Barcelona, Spain)
15 - 17: Craft Beer China 2025 (Shanghai, China)
28 - 01 May: Craft Brewers Conference & BrewExpo America 2025 (Indianapolis, USA)
May 2025:
13 - 15: International Beer Strategies Conference 2025 (Prague, the Czech Republic)
16 - 17: Copenhagen Beer Festival 2025 (Copenhagen, Denmark)
16 - 18: Cerveza Mexico Expo 2025 (Expo Guadalajara, Jalisco, Mexico)
26 - 01 June: Budapest Beer Week 2025 (Budapest, Hungary)
News Articles
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USA: Alcohol consumption remains steady despite growing health concerns, survey finds
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Nearly half of Americans now believe that moderate drinking, defined as one or two alcoholic beverages a day, is harmful to health, according to a recent Gallup survey. This sentiment is even stronger among younger adults, with 65% of those aged 18 to 34 considering any alcohol consumption unhealthy, compared to 37% of those aged 35 to 54, FingerLakes.com reported on August 19.
The survey also found that 45% of all adults view moderate drinking as detrimental, a six-point increase from last year. Despite this growing concern, the average American’s alcohol consumption remains steady at four drinks per week.
Beer remains the most popular alcoholic beverage, narrowly edging out wine, while whiskey and spirits are preferred by 29% of respondents.
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USA: Beer sales sluggish during the last four-week period
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U.S. beer sales were sluggish during the latest four-week tracking period monitored by Nielsen, MSN reported on August 20.
Sales were down 2.3% compared to a year ago, as a 4.1% drop in volume was partially offset by a 1.8% increase in price/mix.
Anheuser-Busch InBev commanded a 36.9% U.S, beer market share as its four-week sales were down 2.1% Y/Y to outpace the marks from Molson Coors (-6.2%), Heineken (-7.1%), Pabst (-5.4%), Boston Beer (-6.2%), Yuengling (-12.4%), and Diageo (-0.7%). Michelob Ultra boosted BUD's sales once again.
Beer makers with positive growth over the four-week tracking period included Constellation Brands (+3.5% Y/Y), Sierra Nevada (+0.5%), and New Belgium (+0.8%).
Beer scorecard: Kiring Holding and Anheuser-Busch InBev are the two beers with the highest quantitative analysis grades. In terms of dividend payouts, Ambev S.A. and Carlsberg A/S have the highest yields for new buyers of the stock. Over the last 52 weeks, Anheuser-Busch InBev has the top share price return at +9.2%. Carlsberg trades with the lowest forward PE ratio. Molson Coors is the beer stock with the highest percentage of short interest outstanding on it.
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Canada: 2023-24 barley use forecast on par with the year prior
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For 2023-24, Canada’s total domestic barley use is forecast at 5.9 million tonnes (Mt), relatively on par with the year prior, Agriculture and Agri-Food
...More info on site
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USA, PA: Source Urban Brewing to open its third location in Philadelphia
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Source Urban Brewing, a popular Philadelphia-based craft brewery, is set to open its third location in Philadelphia’s bustling Manayunk neighborhood. The brewery, known for its innovative brews and vibrant atmosphere, will occupy a historic 10,000-square-foot building on Main Street, which will undergo a renovation to accommodate the brewery’s modern aesthetic while preserving the building’s character.
Set to occupy a historic 10,000-square-foot building on Main Street, the Manayunk location will be Source Urban Brewing’s third venture. The building, a former bank, will undergo a transformation to accommodate the brewery’s modern aesthetic while preserving its historic charm.
Founded by Philip and Keri Petracca and Greg Taylor, Source Urban Brewing is a craft brewery dedicated to creating exceptional beers and fostering a strong connection with its community. Originally from New Jersey, Source Brewing first opened operations in Pennsylvania back in 2021.
“We are thrilled to bring Source Urban Brewing to Manayunk,” said Philip Petracca, co-owner. “The neighborhood’s energy and growing popularity align perfectly with our brand.” The new location will feature a brewery, restaurant, and event space, offering patrons a diverse selection of craft beers, delicious food, and a welcoming environment to gather.
Known for its innovative brews and vibrant atmosphere, Source Urban Brewing has quickly gained
...More info on site
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USA, MO: Friendship Brewing Company holds grand opening in Hannibal
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Despite being open since October 2023, Friendship Brewing Company made things official on Friday, August 16 with a grand opening and ribbon cutting ceremony, KHQA reported.
The event gave Hannibal residents and others a chance to come out and recognize the business officially.
It started at 11:00 a.m. with the ribbon cutting before people stayed around for food, drinks, and other activities. The day was pirate themed, and all of the workers wore their pirate-like attire.
General Manager Nicholas Hummel recognized the importance of the event and the attention that it brings to the business.
"We wanted to kind of celebrate the town of Hannibal and how good they've been to us. So, that's why we picked pirates, was kind of to commemorate the Hannibal Pirates. And really, we just wanted to celebrate what we've been able to do so far and the future that holds with Hannibal," Hummel said.
Hummel also mentioned that the upstairs portion of the location has finished its renovations, which will allow them to continue to host large events like the grand opening.
Friendship Brewing Company is open Tuesday through Sunday, and the hours of operation vary.
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USA, MD: BabyCat Brewery to open a second location in Bethesda
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Kensington’s BabyCat Brewery will be opening a new location in downtown Bethesda’s Woodmont Triangle neighborhood in early 2025, according to co-founder Terry Redmond.
The brewery plans to expand to a second space, called BabyCat Brewery & Kitchen, with a 4,400-square-foot taproom and brewhouse in the ground-floor retail space within the Gallery Bethesda II apartment building at 4850 Rugby Ave.
BabyCat Brewery signed a lease for the space about a month ago, Redmond told MoCo360 Friday. The Montgomery Newsletter first reported the signed lease.
“We’re super excited about it. We really like our concept, and it seems to resonate really well in the community of Kensington. We’re hoping to do the same thing in Bethesda,” Redmond said, referring to the brewery’s focus on creating a gathering space for the communities it serves.
BabyCat Brewery first opened at 10241 Kensington Parkway in November 2022. The brewery’s name is based on co-founder Sam Musomelli’s cat Alice, a.k.a., “Baby Cat,” a small cat “who never really grew,” Musomelli told MoCo360 in 2022. The feline’s face is the brewery’s logo and can be seen on murals around the Kensington location. BabyCat Brewery is run by co-founders Musomelli and Redmond, as well as business manager Kerry Pratt and head brewer
...More info on site
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USA, MA: AB InBev laying off nearly 200 Massachusetts employees
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United States’ largest brewing company, which owns multiple brands such as Budweiser, Michelob, Stella Artois, and Bud Light, is laying off nearly 200 Massachusetts employees, Boston.com reported on August 19.
On August 15, Anheuser-Busch InBev announced it is closing its wholesale production at AB One at 440 Riverside Ave. in Medford as it transitions to a new Massachusetts-based distributor, Quality Beverage.
“We continuously assess our operational footprint to ensure our entire system is set up for long-term success,” said Simon Wuestenberg, U.S. chief sales officer at Anheuser-Busch, in a statement. “The transition of these operations will ensure that Anheuser-Busch and our network of independent distributors will continue to drive the growth of our iconic portfolio of brands while providing world-class service to our retail customers across Massachusetts.”
According to the notice provided to the state, Anheuser-Busch plans to lay off 193 employees, which will go into effect between Nov. 1 and Nov. 14.
A spokesperson for Anheuser-Busch said the company is working with Quality Beverage to ensure a “smooth transition” for its operations and local teams, including some job opportunities for Boston-based employees, but did not say how many.
“We are pleased to expand our relationship with Anheuser-Busch into the greater
...More info on site
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USA, MA: The Cambridge Brewing Company to close in December after 35 years in business
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The Cambridge Brewing Company, a Kendall Square staple for beer enthusiasts, has announced it will be closing this December after 35 years in business, NBC Boston reported on August 17.
The gastropub, which opened in Cambridge, Massachusetts, in 1989, announced in a Facebook post Saturday that its time is coming to a close. The last day of service will be Dec. 20.
"Over our 35 years we have hosted millions of guests, witnessed joyous family gatherings, awkward first dates, college reunions, running and social clubs, raucous bar crowds and countless other occasions," Team CBC wrote. "It is this accomplishment we are most proud of."
"A heartfelt thank you to all who have participated in our dream. To our customers that have joined us time and again over the years, your support and friendship enabled our success," they continued. "To all that are working or have worked here, you guys are what made this place so great. What an honor and a joy it has been to work alongside you!"
Cambridge Brewing Company’s owner and its original brewer, Phil Bannatyne, said in a phone call with the Boston Globe Saturday that "It’s time.”
“I want to retire. There comes a time in everyone’s life when that
...More info on site
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Canada, BC: Victoria’s iconic Swans Brewery to close
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Seeing breweries close, sell and shift their operations is nothing new, but it’s never easy to say goodbye to a longstanding part of the community. Swans Brewery, which opened in 1989, has gone through its share of struggles and changes, but it looks like the end has arrived, Monday Magazine reported on August 19.
Founded by the late craft beer legend Frank Appleton, with the one and only Sean Hoyne as the original brewmaster, it was the only downtown brewery until Vancouver Island moved in at the corner of Bay and Government in 1995. The brewhouse, hidden in the back of the ground floor of the hotel, churned out some of the region’s best-known beers. Appleton Brown Ale, Buckerfield’s ESB, Pandora Pale Ale, and Riley’s Scotch Ale all flowed through the taps of the iconic corner pub overlooking the Johnson Street Bridge.
2006 brought national honours with a win for Brewpub of the Year at the Canadian Brewing Awards, when there was a new energy behind craft beer in Victoria, B.C., and across the country.
Tastes changed, and brewers came and went, with Andrew Tessier and Chris Lukie handling the brewer’s paddle for much of the growth stage in the mid-2010s and into
...More info on site
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USA, AZ: FireTruck Brewing’s location in Oro Valley permanently closed
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After less than five years in business, FireTruck Brewing’s location found at 9630 N. Oracle Rd. #110 in Oro Valley has permanently closed, leaving just one location in midtown at Grant and Swan Road, Tucson Foodie reported on August 20.
Earlier this year in March, Firetruck Brewing also closed its east side taproom at 9155 E. Tanque Verde Rd. #177.
“We are very sad with the sudden closure of our Oro Valley restaurant,” said Taylor Carter, current co-owner of FireTruck Brewing and former firefighter. “Over the years, with the help of the Oro Valley and Tucson community, we raised and donated thousands of dollars for local disabled veterans, firefighters, children, and needy families.”
The ownership is now going to focus on the midtown location — the original taproom, where it all began at 4746 E. Grant Rd.
“We will be putting our efforts into our original location and hoping to unveil a new kitchen/menu in mid-October,” Carted added.
Therefore, the midtown location is still open and ready to serve you from 11 a.m. – 8 p.m. on Sunday – Monday, 11 a.m. – 9 p.m. on Tuesday – Thursday, and 11 a.m. – 10 p.m. on Saturday – Sunday.
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China: Beer market loses fizz as drinkers opt for cheaper brews
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For years, beer brands have been pushing premium products in China, thirsty to tap the consumption power of the growing middle class. But the
...More info on site
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China: China Resources Beer reports increase in net income in H1 2024
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China Resources Beer (Holdings) Company Limited reported earnings results for the half year ended June 30, 2024. For the half year, the company reported
...More info on site
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Ireland: Alcohol consumption down in Ireland with beer accounting for 42.9% of the market
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Alcohol consumption in Ireland is down by almost one-third in the past two decades, according to a study.
Average alcohol consumption continues to fall based on CSO population figures and Revenue alcohol clearance data.
Beer accounts for 42.9 per cent of the alcohol market in Ireland, according to the report authored by economist and associate professor emeritus at DCU Anthony Foley.
Overall, the long-term decline in alcohol consumption over the past two decades indicates that Irish adults are enjoying beer, wine and spirits more moderately and differently,” a Drinks Industry Group of Ireland spokesperson said.
The findings, published on August 19, also show that average per adult alcohol consumption has declined by 31 per cent since its 2001 peak.
While total alcohol consumption increased by 0.9 per cent in 2023 compared with 2022, the average per person decreased due to a 2.4 per cent increase in the adult population over the same period.
The report, commissioned by the Drinks Industry Group of Ireland (DIGI), shows that average per adult alcohol consumption decreased by 1.5 per cent.
This equates to 9.96 litres of pure alcohol last year as opposed to roughly 10.11 litres in 2022.
Beer is the most popular drink, making up 42.9 per cent of all
...More info on site
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Malaysia: Carlsberg Brewery Malaysia’s net profit slips 10% in Q2 this year
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Carlsberg Brewery Malaysia Bhd said its net profit slipped 10% in the second quarter from a year earlier, partly due to higher marketing spending
...More info on site
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Vietnam: Carlsberg continues to record growth in Vietnam despite declining market
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Carlsberg continues to record growth in the declining Vietnamese beer market, said Carlsberg Breweries A/S CEO Jacob Aarup-Andersen at the performance review of the
...More info on site
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Australia: Solid demand from Latin America bolsters Australia’s malting barley premium
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Solid demand from Latin American countries for Australian malting barley is helping to widen its premium to feed barley, according to Australian Export Grains Innovation Centre markets manager Mary Raynes, Grain Central reported on August 19.
Speaking mostly at the July 29 Grain Industry Association of Western Australia’s annual barley forum, Ms Raynes said the Latin American market had emerged after China imposed its tariffs in 2020, and was significant now from a value and volume perspective.
Ms Raynes said Latin American markets, including Mexico, have grown to a substantial level.
“They’re our major malting markets outside of Australia and China,” Ms Raynes said.
“Without those…malting markets, the spread between feed and malting potentially would be tighter.”
Mexico imports close to 440,000 tonnes of malting barley per annum, and for the second consecutive year, it is importing 80 percent of that total from Australia.
Mexico’s major brewers are Heineken and ABI, which were previously obliged by the Mexican Government to consume a proportion of Mexican malting barley based on carbon and sustainability requirements.
Ms Raynes said when compared with Mexico’s own barley, the malting traits of Australian barley make it capable of satisfying those requirements.
“Mexico, Ecuador and Peru have become valued customers of Australia and are only
...More info on site
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UK: Winter barley yields generally proving disappointing in the UK
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While harvest is progressing well in the UK, yields are generally proving disappointing, with averages down for winter wheat, winter barley and oilseed rape,
...More info on site
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France: Spring barley condition dips 1%, 91% of harvest completed
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Some 47% of the soft wheat crop was rated good to very good, well below the rate of 76% seen in 2023, Fastmarkets reported on August 20.
The soft wheat harvest advanced by 10 percentage points during the week, reaching 98% by August 12, ahead of this time last year when 95% of the wheat crop had been harvested, and also above the five-year average of 95%.
The country’s agriculture ministry forecasts a sharp decline in soft wheat production to 25.2 million tonnes in 2024, down by 25% from the previous year and 27% below the five-year average.
The gloomy outlook is largely due to persistent rain, a lack of sunlight and cold weather, which have encouraged diseases that have significantly affected crop yields and quality in most of France’s agricultural regions.
Other grains, such as winter barley, have also been badly hit.
Durum wheat conditions were stable week on week, with 58% of the crop rated good to very good, down from 67% in the corresponding period of 2023.
The durum harvest progressed by 1 percentage points to 100% complete.
The average date for this stage is nine days later than 2023 and eight days later than the average for the previous five years.
Spring barley conditions
...More info on site
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South Africa: Heineken’s R6bn brewery heads to Pietermaritzburg
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The Dolphin Coast on the north coast of KwaZulu-Natal will be dealt a heavy blow as Heineken Beverages, the world’s second-largest beer producer, looks elsewhere in the province to construct its brewery worth more than R6-billion, Sunday World reported on August 19.
Initially, indications were that the multinational corporation had agreed that its new brewery would be located next to the Dube Trade Port, an economic zone, a stone’s throw away from the King Shaka International Airport.
But insiders said the company had changed its heart on the location because it wanted a site where the project would quickly get off the ground.
“What would have hindered the company from establishing itself near the airport is mainly the rigorous application process that comes with setting up a plant. Remember, this should be a five-year project. The sites which have been identified meet all the necessary requirements such as water use licence and environmental impact assessment” said the insider not authorised to speak to the media.
Sunday World also understands that Cato Ridge, near Pietermaritzburg, is now the preferred destination for the brewery. The area is part of eThekwini metro’s N3 corridor development poised for massive catalyst projects over the
...More info on site
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India: Diageo submits financial documents in probe of India unit
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Spirits group Diageo's Indian unit has submitted financial documents sought by New Delhi anti-corruption police in an investigation related to billing and discount practices involving city agencies, a source familiar with the matter was quoted as saying by Reuters on August 19.
Hina Nagarajan, the CEO of Diageo's Indian unit, United Spirits was summoned to appear before New Delhi police on July 26 in the case that relates to company's supply of liquor to government agencies running alcohol shops and payments received from the city between 2017 and 2020.
Nagarajan, who is also a member of Diageo's global executive committee, was asked to appear in person or through company representatives and to provide several documents related to company sales.
Nagarajan did not appear before police but after the July notice, Diageo through company representatives submitted many documents that were sought from the three-year period, said the source, who declined to be named due to a lack of authority to speak to media.
The documents submitted included certain bank statements, records of financial dealings with the Delhi city agencies to which liquor was supplied and some agreements signed with them, the source added.
Diageo India and Delhi anti-corruption police did not respond to repeated requests for
...More info on site
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South Korea: Non-alcoholic and low-calory liquor gaining popularity in Korea
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Liquor with non-alcoholic and low calories is gaining huge popularity. Even with similar experiences, the "Helsifle Leisure" trend, which cares about health, has deeply permeated the drinking culture, Mk.co.kr reported on August 19.
The beer industry is expanding related products, believing that products that have significantly lowered alcohol content or calories will continue to increase market share in the future. Euromonitor, a market research company, announced on the 19th that the domestic non-alcoholic beer market, which was only KRW 1.3 billion in 2012, recorded KRW 41.5 billion in 2021. It is expected to reach 70 billion won this year and is expected to surpass 100 billion won by 2027.
Under the current law, if the alcohol content is less than 1 degree, it can be marked as non-alcoholic or non-alcoholic. If there is no alcohol at all, it is called non-alcohol, and if it is included in a very small amount, it is called non-alcohol The market is expected to grow even larger when low-dose beer, which is made softer than existing alcoholic beverages, is included.
A few years ago, the perception that non-alcoholic beer is less flavorful was not noticed. This is because of the conventional wisdom that 'if you're not
...More info on site
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Japan: Major beer makers rushing to develop rain- and heat-resistant ingredients
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Major Japanese breweries are rushing to develop rain- and heat-resistant varieties and novel cultivation techniques for barley and hops, the main ingredients of beer, Jiji Press reported on August 19.
Such ingredients are no exception to the impact that climate change is seen having on many agricultural products, such as lower quality and reduced yields.
“It is possible that a can (of beer) will cost 800 yen or more in the future,” an industry official said regarding worries over possible difficulties procuring ingredients due to abnormal weather. In such a case, “nobody would drink beer, and (the beer market) would continue to shrink.”
Sapporo Breweries Ltd. successfully developed this year barley that is both rain-resistant and creates good flavor and durable foam when brewed.
Barley often germinates if exposed to prolonged rain right before being harvested, rendering it unusable for beer, whereas the newly developed variety reduces the risk of germination in such conditions by about six-sevenths, according to Sapporo Breweries.
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