Heineken CEO: Not Intimidated by SABMiller, AB InBev Planned Merger

   By Maarten van Tartwijk 
 

AMSTERDAM--Heineken NV's (HEIA.AE) chief executive said the planned merger between Anheuser-Busch InBev NV (ABI.BT) and SABMiller PLC (SAB.LN) will create a vast concentration but isn't intimidated.

Jean-François van Boxmeer said the tie-up of the two rivals will create a brewing behemoth with a "mind-boggling" firepower. "I rarely have seen such a concentration on a global scale," he said in an interview on Wednesday.

But he doesn't expect it to have a big impact on Heineken's competitive position across the globe. [The beer business] is a local fight," Mr. van Boxmeer said. "Market-by-market the situation doesn't change," he said.

In 2014, Heineken rebuffed a an overture by SABMiller to combine their businesses, saying that the controlling family wanted it to remain independent.

Since then, the Dutch brewer has made a series of small acquisitions and investments to strengthen its presence in Asia and Africa. It also acquired a 50% stake in Lagunitas, a California-based craft brewer. "[These acquisitions are less spectacular, but they have been very important," Mr. van Boxmeer said.

Write to Maarten van Tartwijk at [e-mail]

(END) Dow Jones Newswires

February 10, 2016 03:40 ET (08:40 GMT)

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