Heineken CEO: Not Intimidated by SABMiller, AB InBev Planned Merger
February 10 2016 - 03:55AM
Dow Jones News
By Maarten van Tartwijk
AMSTERDAM--Heineken NV's (HEIA.AE) chief executive said the
planned merger between Anheuser-Busch InBev NV (ABI.BT) and
SABMiller PLC (SAB.LN) will create a vast concentration but isn't
intimidated.
Jean-François van Boxmeer said the tie-up of the two rivals will
create a brewing behemoth with a "mind-boggling" firepower. "I
rarely have seen such a concentration on a global scale," he said
in an interview on Wednesday.
But he doesn't expect it to have a big impact on Heineken's
competitive position across the globe. [The beer business] is a
local fight," Mr. van Boxmeer said. "Market-by-market the situation
doesn't change," he said.
In 2014, Heineken rebuffed a an overture by SABMiller to combine
their businesses, saying that the controlling family wanted it to
remain independent.
Since then, the Dutch brewer has made a series of small
acquisitions and investments to strengthen its presence in Asia and
Africa. It also acquired a 50% stake in Lagunitas, a
California-based craft brewer. "[These acquisitions are less
spectacular, but they have been very important," Mr. van Boxmeer
said.
Write to Maarten van Tartwijk at maarten.vantartwijk@wsj.com
(END) Dow Jones Newswires
February 10, 2016 03:40 ET (08:40 GMT)
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