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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.

Heineken launches Offer for remaining APB Shares

Heineken N.V. today announced that Heineken International B.V. (‘HIBV’) has launched a mandatory unconditional cash offer (the ‘Offer’) for all the 12,127,715 issued and paid-up ordinary shares in the capital of Asia Pacific Breweries Limited (‘APB’), representing approximately 4.7% of APB’s issued share capital, which are not already owned or controlled by HIBV as at the date of the Offer. The offer document dated 4 December 2012 (the ‘Offer Document’), which contains inter alia details of the Offer, has been despatched to the shareholders of APB.

The Offer will remain open for acceptance until 8 January 2013 at 5:30 p.m. (Singapore time), or such later date(s) as may be announced by or on behalf of HIBV. Following the completion of the Offer, HEINEKEN will seek to delist APB.

The Offer Document and the announcement made in respect of the despatch of the Offer Document are attached to this media release. An electronic copy of the Offer Document will be made available on the HEINEKEN website at www.heinekeninternational.com.

Directors’ Responsibility Statement

The directors of each of HIBV and HEINEKEN (including those who may have delegated supervision of this Announcement) have taken all reasonable care to ensure that the facts stated and all opinions expressed in this Announcement are fair and accurate and that there are no other material facts not contained in this Announcement the omission of which would make any statement in this Announcement misleading.
Where any information has been extracted or reproduced from published or otherwise publicly available sources or obtained from F&N or APB, the sole responsibility of the directors of each of HIBV and HEINEKEN has been to ensure through reasonable enquiries that such information has been accurately and correctly extracted from such sources or, as the case may be, accurately reflected or reproduced in this Announcement. The directors of each of HIBV and HEINEKEN jointly and severally accept responsibility accordingly.

4 Dec. 2012

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