The alcoholic beverage industry “is ripe for another round (or more) of consolidation,” but family-owned companies are resisting overtures from the industry giants,
the
Financial Times
reported.
SABMiller is interested in the African beer business of Castel, a French company, the article said. “But Castel is family owned and, while generational change looms, there are scant signs of a change of heart,” the report noted. Similarly, Diageo would like to acquire José Cuervo tequila, which is owned by the Beckmann family.
Trevor Stirling, European beverages analyst at Bernstein, told the
FT:
“Diageo and SABMiller would love to do the right deal at the right price. But the sticking point is families who are not willing to sell at a price the buyers are willing to put to their shareholders.”
The article also noted that Grupo Modelo, which is 50.2% owned by AB InBev. wrote a letter to the Mexican stock exchange saying that it was not interested in a full takeover. (Source:
Financial Times,
Oct. 15, 2010.)
-
680 reads