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South Africa: U.S. Brewer Plays Nationalist Card Against InBev Bid
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Business Day (Johannesburg)
COLUMN
23 June 2008
Posted to the web 23 June 2008
Tim Cohen
Johannesburg
WE KNOW all about resource nationalism. But is there such a thing as beer nationalism?
If there is, it's reaching almost absurd intensity in the US at the moment as Anheuser-Busch (AB), the makers of the US icon Budweiser, consider Belgian-based InBev's unsolicited takeover bid.
AB, or perhaps its surrogates, have put out an advert describing the company as being "Interwoven into the fabric of American culture and landscape since the 1850s" and "a condiment to the American life -- a beer and a hot dog, a beer and peanuts".
The ditty goes: "What do you Belgian guys, what do you have to offer? ... a beer and a waffle won't that taste great ... So here's to you, you Belgian beer-buying, waffle-eating makers of over 200 brands of beer..."
And so on.
Is it a joke? And if so, is it funny? It's interesting because Anheuser-Busch used the same tactic some years ago against SABMiller, during which it described the company (more or less) as a, spit, South African, spit, company during their price war.
The tactic is deeply ironic, since AB finds itself defending itself against a takeover precisely because it opted out of the consolidation in the beer market that has been taking place over the past decade or so.
However, the real news at the weekend was that Carlos Fernandez, chairman of AB's half-owned Mexican partner, Grupo Modelo, has quit the AB board.
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This could mean talks between AB and Modelo have got more serious. Or, it could mean Modelo has cut its ties with AB and is negotiating with InBev about its future.
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