Beer maker Heineken strikes deal to expand in China

Beer maker Heineken strikes deal to expand in China | iNFOnews.ca
FILE - In this file photo dated Friday, March 30, 2018, bottles of Heineken beer are photographed in Washington, USA. Dutch brewing company Heineken said in a statement Friday Aug, 3, 2018, it is buying a 40 percent stake in the company that controls China’s biggest beer maker, China Resources Beer.(AP Photo/J. David Ake, FILE)

BRUSSELS – Dutch brewing company Heineken says it’s buying a 40 per cent stake in the company that controls China’s biggest beer maker, China Resources Beer.

Heineken said in a statement Friday that it would invest $3.1 billion in the venture as it seeks to expand in the world’s biggest beer market.

It says that Chinese drinkers are embracing imported beers and that CRB, producer of the bestselling Snow lager, lacks a premium overseas brand.

The stake in CRB would significantly boost Heineken’s distribution reach.

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