Habeco makes Hà Nội beer. © Kenneth Wong/Flickr
Anheuser-Busch’s Australian subsidiary, Carlton & United Breweries (CUB), has told Vietnamese government officials that the company is interested in becoming a ‘strategic’ investor in the state-owned Habeco and Sabeco breweries when they are privatised.
A senior CUB official – believed to be CEO Jan Craps – told Vietnam’s deputy prime minister, Vuong Dinh Hue, of CUB’s interest in both of the breweries. The information was made public by the Vietnamese government.
Plans to privatise the Saigon Alcohol Beer and Beverages Corporation (Sabeco) and Hanoi Alcohol Beer and Beverages Corporation (Habeco) have been public knowledge for some time. The process has dragged its heels, and attempts from interested parties to commit the Vietnamese government to a definitive timescale have largely failed.
Along with Heineken and Kirin Holdings, Anheuser-Busch was thought to be keen on acquiring a controlling stake in the Sabeco brewery.
But its interest in Habeco, too, will be cause for alarm for Carlsberg.
The Danish brewer has long coveted Habeco, and chief executive officer Cees ‘t Hart insisted that it ws still ‘hunting’ for a larger stake in the Habeco brewery back in May. Carlsberg already owns 17% in the government-controlled brewery, and wants to increase its holding to a majority stake.
“The process is, if you like, hot,” ‘t Hart told investors after Carlsberg posted first-quarter revenue of DKK 13.7 billion ($2.02 billion).
“As you know, they want to privatise three companies this year. It still seems that they’ll go first for Habeco, but that from time to time changes as well, first Sabeco or first Habeco. Over the last six weeks, I’ve been three times to Vietnam. So, probably that makes a point. But frankly, we do not know the new timing. It’s pretty complicated, cumbersome, but as you can hear, we are hunting to get it.”
Carlsberg had previously sold a brewery in in the southern city of Vung Tau to Heineken, saying that it would focus on its existing operations elsewhere in Vietnam. That gives it scope to move for Habeco, which is based in Hanoi in the north.
Indeed, the brewing giant is intent on monopolising the north of the country. ‘T Hart said: “With regards to Vietnam, indeed, we focus on the territory where we are [in the north]. We have a footprint, which we would like to improve at the moment that the privatisation [of Habeco] is being implemented.”
Beer consumption is expected to increase in Vietnam from a volume of almost 3.9 billion litres in 2015 to just over 4 billion litres this year – up 4.1% – according to research from Euromonitor International.
CUB’s beers include local brands like Victoria Bitter, Crown Lager, Carlton Draught and Cascade. It also operates SABMiller’s portfolio of beers in Australia, including Pilsner Urquell and – until their sale to Asahi – the Peroni and Grolsch lagers.
It was formerly called the Fosters Group and was a part of SABMiller until its $100-billion takeover by Anheuser-Busch.
AB insider Craps replaced former CUB CEO Ari Mervis after the completion of the deal. He had previously been Anheuser-Busch’s business unit head in Canada.
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