The trend of complication of Russian beer market is going on and in several directions at the same time. The range has got wider, the import and small segments are growing, namely craft beer, alcohol-free beer and special flavor beer. At the same time, all ex-mega brands and light lagers by Russian brewers are experiencing a decline of their shares. AB InBev Efes, Heineken, MBC and Pivzavod Trekhsosenskiy have exceeded the market, Carlsberg was developing slower than the market and Ochakovo as well as some other mid-sized breweries have been cutting down their volumes. To a big extent brewers’ performance was connected to their ability to reach agreement with networks, sacrifice their margin and enter new markets. Craft brewers are facing a serious danger of producers’ registration introduction – de facto licensing. ...
The global outlooks of the legal market of cannabis are excellent. It is possible to simultaneously imagine dry law repeal and craft brewing boom but not in one but in several consumer categories. For alcohol is contained in liquids and cannabis derivatives can be in three physical forms.The value of legal market of cannabis and its products can reach 10% of the world beer market in five years, and in 2030-2040 even reach the same scope provided the current rates of legalization and development of market infrastructure remain at the same level. Cannabinoids are actively integrating into the food industry from chewing gum to beverages deforming the pharmaceutical and alcohol markets, they influence the trends of healthy lifestyle and beauty. ...
Beer market of Kazakhstan acquired both traits of East European countries and South Eastern Asia taking a transitional position between them by many criteria and consumption style. Yet there is a positive trend in beer production which differs Kazakhstan from most of the neighboring countries. The market has remained consolidated in the hands of two international players because of its small size. However, it faces dynamic processes such as fast growth of draft beer sales, up and downs of regional companies and Carlsberg Group’s ultimate expansion. Excessive mainstream segment has declined over the recent years, yet, Zhigulevskoe and national brands with regional links have yielded their positions to a range of new products. In our review special attention was paid to regional analysis of the markets. In 14 regions of Kazakhstan we compared the companies’ positions, the market price segmentation and DIOT channel development. Besides we have compared the beer market of Kazakhstan to neighboring countries. ...
Modelo, Molson eyeing joint Foster’s bid -source
* Banks including BoFA, Deutsche helping w/ financing
* Foster's ADRS up 5.5 pct; Molson shares down 3 pct (Adds company background, details on potential bidders, analyst comment, Molson Coors closing share price)
Molson Coors Brewing Co (TAP.N) and Mexico's Grupo Modelo SAB de CV (GMODELOC.MX) have been exploring a joint bid for Australia's Foster's Group Ltd (FGL.AX), a source familiar with the situation said on Thursday.
Banks including Bank of America Corp (BAC.N) and Deutsche Bank AG (DBKGn.DE) are helping the maker of Corona beer and the maker of Coors Light beer to come up with financing for a possible offer, said the source, who declined to be named because the talks are not public.
But a bid looks less likely than it did a few weeks ago because of concerns about the structure of the deal, according to Bloomberg, which first reported the news.
"A deal with this structure just doesn't feel right," said Morningstar analyst Philip Gorham. "I can see why Molson Coors is interested, but I don't believe the structure of the deal as it's been rumored really works."
Foster's, Australia's top beer maker with brands including VB and Cascade, has a market capitalization of A$8.31 billion ($8.81 billion), according to Thomson Reuters data. Gorham said he could see a deal being worth about $9 billion, which he guessed would be too much for Molson to swallow alone.
In late 2008, Molson emerged as a holder of a 5 percent stake in Foster's, leading to speculation that it could be a likely suitor once the company spun off its troubled wine unit. Molson has since unwound the position at a profit.
Foster's spun off the wine business, now called Treasury Wine Estates Ltd (TWE.AX), last month.
After the split, the market valued Foster's and Treasury more than they had Foster's before the separation, suggesting that a takeover premium was being baked in to the shares.
Furthermore, analysts have warned that the soaring Aussie dollar could scare off potential bidders, whom they said could include Japan's Asahi Breweries Ltd (2502.T), Coca-Cola Amatil Ltd (CCL.AX) and SABMiller PLC (SAB.L). [ID:nL3E7GA01G]
Foster's, Modelo, Molson, SAB, AB InBev and Deutsche declined to comment. Coke Amatil, Asahi, and Bank of America were not immediately available.
For Molson Coors, which has a joint venture in the United States with SABMiller, teaming up with Modelo would "make life complicated," said Morningstar's Gorham, since the Mexican brewer is half-owned by Anheuser-Busch InBev SA. (ABI.BR)
"Molson would be torn between two large, influential players," he said. Still, he said the timing made sense for Molson, as it is nearly done wringing out savings from the MillerCoors venture, and Foster's dominance in Australia fits with Molson's business, which is concentrated in the United States, Canada and Britain.
Even though Modelo does not have experience with overseas acquisitions, it has many international partnerships through which it sells its Corona and Negra Modelo beers around the world. It works with Molson in Canada and Foster's in Australia.
Molson, which has been under pressure by Wall Street to spend some of its cash pile, also lacks a strong track record of international deal-making.
"Because of the nature of consolidation, you've got people that get into bed with each other whom you might not expect," said Tom Pirko, founder of consulting firm Bevmark LLC.
Pirko said it would be interesting to see if AB InBev moves to block any such deal by Modelo, since it is widely believed throughout the industry that AB InBev would like to buy Modelo outright, and its buying a stake in Foster's would make it more expensive.
"It looks like you block it so you can get Modelo," said Pirko. "But in point of fact, if you want to continue to be the biggest brewer in the world, maybe the logical step is to allow Modelo to go forward and then swallow Modelo and Foster's."
Foster's shares closed on Thursday at A$4.28 in Australia. Its American Depositary Receipts were up 5.5 percent at $4.80 on the Pink Sheets. Molson shares fell 3.1 percent to close at $44.36 on the New York Stock Exchange.
3 Июн. 2011