The $16 billion takeover of Carlton & United Breweries by Japan's Asahi could help revive beer sales in Australia after a multi-year slump, industry executives say, as the competition regulator confirmed it would investigate the blockbuster deal.
The ACCC said it had been notified of the proposed transaction and would begin a public review once it received a submission. Tim Cooper, the managing director of Australia's largest independent family-owned brewery, Coopers, said the Asahi deal would be beneficial to the broader national beer market.
CUB is Australia's biggest brewer with nearly 50 per cent market share. Its closest competitor, Lion, owned by Japan's Kirin Holdings, has about 40 per cent.
The beer market is down because of changing consumer habits and ever increasing govt excise, not because of the companies. Local indie craft is growing in a flat market though
Flat beer market? No fizz?