News Briefs for November 30, 2015November 30, 2015
•Beam Suntory has agreed to sell its Spanish brandy and Sherry business to Emperador Inc. for €275 million ($292m). The agreement includes the Fundador, Harveys, Terry and Tres Cepas brands, as well as production operations in Jerez and Tomelloso, Spain. Fundador is currently a top-selling brandy in the Philippines, where Emperador is based. Last year, Emperador—a subsidiary of Alliance Global Group, Inc.—purchased Whyte & Mackay Ltd., one of the world’s leading Scotch producers.
•AB InBev is reportedly considering selling off the Peroni and Grolsch beer brands as it seeks regulatory approval for its pending $107 billion acquisition of SABMiller. According to multiple reports, the two brands, which are currently in the SABMiller stable, could be sold to satisfy European regulators, with potential buyers including Heineken, Molson Coors and C&C Group. In the U.S., Peroni and Grolsch are handled by MillerCoors, the SABMiller-Molson Coors joint venture. Molson Coors has agreed to acquire full control of MillerCoors for $12 billion in another transaction intended to improve regulators’ view of the AB InBev-SABMiller merger. AB InBev is also said to be considering an IPO of Carlton & United (formerly known as Foster’s). The Australian reports that the brewing giant is currently exploring the possibility of a float of Carlton & United upon completion of its merger with SABMiller. SABMiller acquired Carlton & United for A$12.3 billion ($9.2b) four years ago.Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.