Leslie Massey
Victoria Bitter (VB) is a lager produced by Carlton & United Breweries (CUB), a subsidiary of Asahi, in Melbourne, Victoria. In 2019, Asahi Breweries, a Japanese company, agreed to purchase CUB in a $16 billion deal. Before the acquisition, CUB was owned by Anheuser-Busch InBev, which had acquired it from SABMiller in 2016. The sale of CUB to Asahi means that both of Australia's major brewers are now Japanese-owned.
| Characteristics | Values |
|---|---|
| Current Owner | Asahi Breweries |
| Previous Owner | Anheuser-Busch InBev |
| Previous Owner | SABMiller |
| Previous Owner | Elders IXL |
| Previous Owner | Foster's Group |
| Year of Acquisition by Asahi | 2019 |
| Deal Amount | $16 billion |
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What You'll Learn
VB is owned by Asahi Breweries, a Japanese company
Victoria Bitter, or VB, is one of Australia's most iconic beers. It was first brewed in 1854 and has since become one of the country's best-selling beers. VB is produced by Carlton & United Breweries (CUB), a subsidiary of Asahi Breweries, a Japanese company.
CUB was established in 1904 as a merger of six existing breweries and became a public company in 1913. Over the years, it has changed hands several times. In 1983, it was acquired by Elders IXL, which later became known as Foster's Group. In 2011, Foster's Group was bought by South African brewing giant SABMiller, which was then acquired by Belgian brewer AB InBev five years later.
In 2019, it was announced that AB InBev would sell its Australian subsidiary, CUB, to Asahi Breweries in a $16 billion deal. This deal was approved in May 2020, making VB and other popular Australian beers owned by a Japanese company. The acquisition of CUB by Asahi Breweries marked the second time in a decade that one of Australia's major brewers had come under Japanese ownership, with Kirin purchasing Lion, the brewer of XXXX and Toohey's, in 2009.
The sale of CUB to Asahi was part of AB InBev's strategy to expand into the fast-growing markets in the Asia-Pacific region and pay down its substantial net debt. This deal also allowed AB InBev to reinvest in better growth markets, shedding a low-growth, high-margin asset. Asahi Breweries, valued at $28 billion, had already entered the Australian market in 2011, importing its products and acquiring local craft beer brands.
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VB was previously owned by Anheuser-Busch InBev, a Belgian company
Victoria Bitter, or VB, is a lager produced by Carlton & United Breweries (CUB), a subsidiary of Asahi, in Melbourne, Victoria. It was first brewed in 1854 and is one of the best-selling beers in Australia.
The history of VB's ownership is complex and involves several mergers and acquisitions. CUB was established in 1904 as a merger of six existing breweries and became a public company in 1913. Over the years, it acquired several other brewing companies and changed names a few times. In 1983, it became a wholly-owned subsidiary of Elders IXL, which later became known as Foster's Group. In 2004, Foster's Group changed its name to Carlton & United Beverages. In 2011, Foster's Group was acquired by the South African brewing giant SABMiller, which then merged with CUB's global owner, SABMiller, in 2016. This made AB InBev a dominant player in Australia.
However, AB InBev's ownership of VB was short-lived as the company announced in 2019 that it would sell CUB to Asahi. This deal allowed AB InBev to pay down its net debt, which totalled $102.5 billion at the end of 2018, and expand into other fast-growing markets in the Asia-Pacific region.
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Before that, it was owned by SABMiller, a South African company
Victoria Bitter (VB) is a lager produced by Carlton & United Breweries (CUB), a subsidiary of Asahi, in Melbourne, Victoria. It was first brewed in 1854 and is one of the best-selling beers in Australia.
SABMiller's ownership of CUB began in 2011 when it acquired Foster's Group, which had previously owned CUB since 1990. During its time as a subsidiary of SABMiller, CUB continued to produce VB and other popular Australian beer brands, such as Carlton Draught and Pure Blonde.
SABMiller was a multinational brewing and beverage company headquartered in London, United Kingdom. It was the second-largest brewing company in the world before it ceased trading on global stock markets, leading to the sale of CUB to Asahi.
The sale of CUB to Asahi for $16 billion was a significant event in the Australian beer market, as it meant that both of Australia's major brewers would be Japanese-owned, with Kirin, another Japanese company, having purchased Lion, brewer of XXXX and Toohey's, a decade earlier.
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SABMiller acquired VB when it bought Foster's Group in 2011
VB, or Victoria Bitter, is a lager produced by Carlton & United Breweries (CUB). It was first brewed by Thomas Aitken at Victoria Brewery in Melbourne, Victoria, in 1854 and is one of the best-selling beers in Australia.
In 1904, six major Australian breweries merged to form Carlton & United Breweries. In 1983, CUB was wholly bought by Elders IXL, a giant Australian conglomerate with diverse interests. In 1990, Elders IXL was renamed Foster's Group to reflect the name of their most internationally recognised product.
In 2011, Foster's Group was acquired by SABMiller, a British-South African multinational company, for A$11.5 billion ($11.2 billion). This deal was approved by the Australian government under foreign acquisitions laws, with the condition that SABMiller keep management of the iconic Australian beer brand in Australia. This acquisition made SABMiller the head of the Australian beer market with a near-50 percent share.
Following the acquisition of Foster's Group, VB was indirectly owned by SABMiller. However, in 2016, SABMiller ceased trading on global stock markets after it was acquired by Anheuser-Busch InBev. Subsequently, in 2019, Asahi Breweries agreed to purchase CUB from Anheuser-Busch InBev for $16 billion. The deal was finalised in 2020, and VB is now owned by Asahi, a Japanese company.
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Foster's Group was previously known as Elders Brewing Group
Victoria Bitter (VB) is a lager produced by Carlton & United Breweries (CUB), a subsidiary of Asahi, in Melbourne, Victoria. It was first brewed in 1854 and is one of the best-selling beers in Australia.
VB was previously owned by Foster's Group, an Australian beer group with interests in brewing and soft drinks. Foster's Group was founded in 1888 in Melbourne, Victoria, by two American brothers, William and Ralph Foster, who sold the brewery a year later. The company was renamed prior to its sale to British-South African multinational SABMiller in 2011.
In 2005, Foster's Group acquired the Australian wine-making group Southcorp Wines, adding famous brands such as Penfolds, Lindemans and Rosemount to their portfolio. In 2011, Foster's Group's Treasury Wine Estates unit was spun off into a separate company, and the company began to focus more on craft beer to meet the changing tastes of Australian drinkers. In 2016, Foster's Group became a direct subsidiary of Anheuser-Busch InBev SA/NV. Finally, in 2019, Asahi Group Holdings, a large Japanese beverage corporation, purchased Foster's Group's Australian assets, including VB.
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Frequently asked questions
No, VB is owned by the Japanese company Asahi Breweries.
Asahi purchased VB's parent company, Carlton & United Breweries, in 2019.
Before Asahi, VB was owned by Anheuser-Busch InBev, which acquired it from SABMiller in 2016.
Asahi owns a range of popular Australian beers, including VB, Carlton Draught, Pure Blonde, and Great Northern.
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