Miller Looks to China

In yet another sign that global brewers are pushing deeper into the large volume and fast growing Chinese beer market, SABMiller said Friday it will buy four Chinese breweries for $79 million with partner China Resources Enterprise Ltd.

Two breweries are in Liaoning province, one brewery is in Anhui and one is in Hunan province. The total investment cost for the four separate acquisitions includes a cash payment of $57 million, the company said in a statement.

SABMiller’s joint venture with China Resources, China Resources Snow Breweries Ltd., has agreed to acquire an 80 percent stake in Liaoning Yalujiang Brewery Co. and the brewing assets of Huludao Juhua Brewery Co. Ltd., in which it will own an 85 percent stake.

It is also acquiring the brewing assets of Anhui Wanpi Brewery Company Ltd. and a 100 percent equity interest in Hunan Xinghua Brewery Co. Ltd.

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