Competition in emerging beer markets used to be as weak as Bud Light. Now the competitive intensity is stronger than Delirium
connoisseurs mock Budweiser’s usurped title of “King of Beers”. No one, however, quibbles that Bud’s purveyor, Anheuser-Busch InBev , reigns over global brewing. The all-conquering firm now sells almost three Olympic-sized swimming pools of beer an hour—more than its three nearest rivals combined. Yet even as profits have frothed, weariness has descended upon the head that wears the crown.
The successful two-pronged strategy of serial acquisitions and cost-cutting appears to be nearing its limits, however. Having consolidated the fragmented beer industry—four of the ten biggest brewers in 1990 are part of its empire—no large rivals remain to be taken over without goading competition authorities.
No wonder Mr Brito says reducing debt is his priority. More specifically, analysts reckon, he wants to make it more manageable by boosting profits. Now that Kraft Heinz’s woes make some investors take a leery view of’s fat margins, lest they too are down to indiscriminate cost-slashing, the focus has turned to increasing earnings by growing revenues from beer.
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