SABMiller swallows Grolsch

And the consolidation goes on.

In the global economy, it's rare that a week goes by without one company swallowing up another. The latest is a deal valued at $1.2 billion in which SABMiller has agreed to buy the ancient Dutch brewer Royal Grolsch NV.

"SABMiller sees significant potential across Africa and Latin America, where the premium segment is still in its infancy, and in the more developed markets of Central and Eastern Europe. South Africa represents a key opportunity and with the addition of Grolsch, SABMiller will have a particularly strong portfolio of highly differentiated premium brands in that market," the company said in a statement.

No changes to existing distribution arrangements in Australia, Canada, the United Kingdom or the United States are anticipated at this time. Anheuser-Busch last year acquired distribution rights for Grolsch in the U.S.

Graham Mackay, chief executive of SABMiller, said: “Grolsch will provide SABMiller with a powerful addition to its international brand portfolio. Within the SABMiller family Grolsch will continue to build on almost 400 years of brewing heritage, and together we will establish new positions in the most important emerging beer markets around the world."

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