Competition in Australia’s beer market has come into question this week following the sale of Carlton & United Breweries (CUB) to Japanese beverage giant Asahi, announced on Friday.
Belgium-based brewer Anheuser-Busch InBev agreed to sell the Australian subsidiary, which is known for iconic Australian brews such as Victoria Bitter and Foster’s, to Asahi Beverages for A$16 billion in enterprise value.
CUB is Australia’s largest brewer, holding a 48.8 per cent share of the Australian beer market. Following the takeover Asahi would control half of the Australian beer market.
News of the sale caught the attention of Australia’s competition authority, the ACCC, which said it is planning to hold a public review of the takeover.
Today, we’re asking if you think it’s OK for one company to control that much of the market? Share your thoughts in the comments.