Belgium-based brewer AB InBev has decided to reduce investments in its wheat beer Hoegaarden, because the beer is no longer a European priority. The money will go to other beers, like Hoegaarden's radler varieties.
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AB InBev's third quarter's normalized EBITDA dropped 2 % to 4.4 billion dollars (4 billion euro), mainly because of weak Brazilian results. The company has immediately moved to change its full-year forecast downward.
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If all shareholders approve the decision, and it is to be expected they do, Jean-François Van Boxmeer will continue as Heineken's CEO for another 4 years. Under his guidance, the Dutch company's turnover doubled.
Both AB InBev and SABMiller's shareholders have overwhelmingly approved the merger between both drink manufacturers. More than 95 % of shareholders, at both companies, approved the deal.
Belgian brewery Bosteels, which manufactures beers like Kwak and Tripel Karmeliet, has finally found a buyer. Not Heineken or Duvel Moortgat, like the rumours stated, but AB InBev.
Following its merger with SABMiller, AB InBev will apparently gradually cut 3 % of all jobs, some 5,500 jobs.
Danish brewer Carlsberg's turnover dropped nearly 4 % in the first six months of 2016, down to 31.243 billion krona (4.2 billion euro). Nevertheless, net profit grew 25 %.
AB InBev has decided to increase its SABMiller bid by a pound to 45 pounds per share, after SABMiller's major shareholders asked for an increased bid: they felt the Brexit had devaluated the original bid.
The American government approved the merger between beer companies SABMiller and AB InBev, although it did mention a few conditions to the deal, like a MillerCoors sale.
Belgian breweries 3 Fonteinen (from Beersel) and Cantillon (from Anderlecht) aim to stop any lambic beer speculation, as these beers are often resold at extortionate prices.
AB InBev hopes 20 % of its beer volume in 2025 will come from non-alcoholic beverages or beverages with low levels of alcohol. CEO Carlos Brito revealed the forecast during its annual general assembly of shareholders.
Belgian beer brewer AB InBev has promised to create a South African investment fund to finalize the SABMiller merger faster. It also says every South African employee will keep his job after the merger.
The demand for hop has never been higher than in 2015, particularly because of craft beers' increased popularity. The harvest dropped 40 % however, which means prices have skyrocketed.
Beer brewery AB InBev's fourth quarter of 2015 has remained largely below expectations, with mostly its American beer sales remarkably below par.
Japanese beer brewer Asahi has acquired SABMiller's Grolsch and Peroni beer brands, which it was forced to sell to enable a merger with Belgian AB InBev.
Belgian Edwin Botterman will become Alken-Maes' new managing director next month. He will succeed Dutuch Erik van de Ven, who will head to the brewer's parent company, Heineken, in Amsterdam.