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4-2017

Global hop market

A local alternative to mass beer suggested by independent brewers has been successful and is now altering the global market. Beer is becoming more diversified, so transnational companies have to accept the new game rules and to switch focus to young and fast growing markets. All these processes increased the demand for aroma and bitter hop as well as their acreage expansion on two continents. However now there appeared a downward trend of alcohol consumption in the world, so even special sorts can soon turn to be sufficient. In this connection the dynamic American hop market is already facing some problems. EU hop producers have become more cautious, they are not racing to exceed the demand and look forward with more confidence, judging by the contract terms. 

Hop Market in Russia

Germany still dominates the Russian market, yet over the recent two years one has been able observe a continuous success of Czech hop suppliers. Their expansion and growing popularity of hops from the United States became the drivers of supplies growth in 2016 despite the preceding modest harvest crop in the EU, as well as the factor of relative stability in 2017. In this connection, in 2017, the ratio of the varieties continued to shift towards the aroma ones, and the supplies of Magnum hop and other alpha varieties were reduced. However, the import of bitter hop pellets is partially replaced by extracts, especially from the major beer manufacturers. Total volumes of alpha acid supplies, according to our estimation, decreased by approximately 5% and returned to the level of 2015. Barth Haas Group continues dominating the hop products market; HVG also increased its weight. At the same time, Morris Hanbury significantly reduced the supplies in 2017.

Kirin Wins Court Order Allowing Takeover of Brazil Beer Maker Schincariol

Kirin Holdings Co., Japan’s second- largest brewer by volume, won a Brazilian court ruling allowing it to proceed with its takeover of Schincariol Participacoes & Representacoes.

The court in Sao Paulo state in a ruling yesterday overturned a previous injunction blocking the deal, said Fabio Rosas, a partner at Tozzini Freire Advogados, the law firm representing Kirin. The injunction was granted Aug. 4 after minority shareholders Jose Augusto Schincariol, Daniela Schincariol and Gilberto Schincariol Junior sued, claiming they have the right of first refusal to the controlling stake that Kirin purchased in August.

On Aug. 1, Kirin paid 3.95 billion reais ($2.2 billion) for Aleadri-Schinni Participacoes & Representacoes SA, which owns 50.45 percent of Schincariol. The deal, which was the global beer industry’s second-largest this year, gave Tokyo-based Kirin a foothold in Latin America’s largest beer market with brands such as Nova Schin and Devassa, whose television ads feature socialite Paris Hilton.

“The acquisition was legitimate and was made with all the care in the world, so it’s not a surprise that the justice recognized it,” said Fabio Ozi, a partner at Mattos Filho Veiga Filho Marrey Junior & Quiroga Advogados, the law firm representing majority shareholder Adriano Schincariol and Aleadri-Schinni, who also appealed the injunction.

Resuming Talks
Yesterday’s ruling paves the way for Kirin to take control of the company’s administration and resume talks to buy out minority shareholders. The Japanese brewer has offered at least 2 billion reais for the minority stakes, a person with knowledge of the discussions, who asked not to be identified because the talks are private, said late last month.

Kirin hired UBS AG to advise on the talks with minority shareholders, two people familiar with the process said last month. Citigroup Inc. acted as adviser for the accord to buy the controlling stake.

Minority shareholders Jose Augusto Schincariol, Daniela Schincariol and Gilberto Schincariol Junior plan to appeal yesterday’s ruling, according to their law firm, Teixeira, Martins & Advogados.

Kirin’s Schincariol purchase was the second largest in the global beer industry this year, trailing SabMiller Plc’s A$9.9 billion ($9.9 billion) acquisition of Foster’s Group Ltd. in September.

12 Oct. 2011

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