Carlsberg
Carlsberg’s £3.3B Acquisition of Britvic Gets Green Light
The UK’s Competition and Markets Authority (CMA) approved Carlsberg UK’s £3.3 billion acquisition of Britvic, clearing the way for the deal to close in January 2025. The merger combines Carlsberg’s beer expertise with Britvic’s strength in soft drinks, including brands like Robinsons, Tango, and J2O, alongside PepsiCo-licensed products like Pepsi MAX and Lipton Ice Tea. Britvic’s 2023 revenue of £1.75 billion reflects strong market performance, with 6.6% year-on-year growth. This integration creates a multi-beverage powerhouse, Carlsberg Britvic, which will leverage synergies such as joint procurement, shared R&D for sustainability, and flavor innovation. Carlsberg projects cost synergies of £100 million over five years, highlighting efficiencies in operations like canning and resource pooling. Combining beer and soft drinks under one umbrella may offer a blueprint for scaling operations while enhancing product diversity.
Carlsberg Integrates Regenerative Farming into Sustainability Goals
Carlsberg is embracing regenerative farming practices in Denmark as part of its 'Together Towards ZERO and Beyond' global sustainability framework, targeting 100% regeneratively sourced raw materials by 2040. Partnering with DLG and Viking Malt, Carlsberg has harvested its first regenerative barley crop, spanning 100 hectares and yielding enough malt for 3.3 million litres of beer. This will be used for a limited-edition beer and incorporated into the flagship Carlsberg Pilsner. Regenerative farming methods improve soil health, enhance biodiversity, and reduce carbon emissions through techniques like crop rotation, minimal tillage, and reduced chemical inputs. Agriculture accounts for 24% of Carlsberg’s CO2 emissions in Denmark, making this shift critical for achieving climate targets.
Companies
Suntory Prepares For Escalating Tariff Risks
Suntory is addressing the potential impact of a 50% European tariff on U.S.-made bourbon, set to take effect in 2025 when a measure suspending the tariffs expires at the end of March. The measure, tied to unresolved trade disputes from the first Trump administration, has prompted the company to stockpile American whiskey in Europe and expand its scotch offerings from the U.K., which face fewer trade barriers. In the U.S., Suntory plans to prioritize domestic sales of its bourbon, leveraging its local production to offset tariff-related challenges abroad. CEO Takeshi Niinami emphasizes the company’s global supply portfolio as a buffer against rising trade tensions, including potential new tariffs under President-elect Trump’s administration.
Lucozade Maker Targets Carbon Reduction with New Energy Model
Suntory Beverage & Food GB&I (SBF GB&I), the company behind Lucozade and Ribena, announced a £6 million investment in its Coleford factory to transition from gas to renewable electricity. The upgrade will reduce its Scope 1 carbon emissions by 58%, putting Suntory four years ahead of its 2030 carbon reduction targets. An Environmental Impact Assessment is underway to ensure minimal disruption to the local environment.
Carlsberg Sells Russian Assets in Discounted Management Buyout
Carlsberg finalized the sale of its Russian operations, including Baltika Breweries, to two senior employees of the company for $320 million. The transaction comes after Moscow seized Carlsberg’s Russian assets in 2023. The sale, approved by both Russian and Danish authorities, represents a steep discount from the $1.06 billion valuation of Carlsberg’s Russian net assets in December 2022. As part of the asset exchange, Carlsberg will acquire stakes in operations in Azerbaijan and Kazakhstan. Russian regulations include an "exit tax" that required Carlsberg to redirect 15% of the market value of Baltika to the federal budget. Carlsberg’s CEO described the sale as the “best achievable outcome” under challenging circumstances, allowing the company to settle lawsuits and intellectual property disputes while safeguarding employees. Carlsberg’s departure follows a similar forced exit by Danone.
Carlsberg Malaysia Invests RM343 Million To Transform Brewery
Carlsberg Malaysia unveiled a RM343 million (US$76m) investment plan, its largest investment in its brewery since it was established in 1971. The multi-year initiative will modernize brewing technology and emphasize sustainability and efficiency to align with Carlsberg’s global Together Towards ZERO and Beyond (TTZAB) program, targeting zero carbon emissions by 2030 and net-zero emissions across its value chain by 2040. Key upgrades include RM200 million toward bottling and canning lines and filtration systems, improving capacity, efficiency, and utility consumption. An additional RM140 million will fund energy-efficient production technologies, workplace safety upgrades, and resource optimization, ensuring long-term environmental and operational sustainability.
Suntory
Suntory Targets US RTD Growth with MARU-HI Launch
Suntory Holdings is set to strengthen its position in the US Ready-to-Drink (RTD) market with the launch of MARU-HI, a Japanese-inspired sparkling cocktail debuting in California in January 2025. Inspired by Chu-hi, a popular Japanese cocktail from Izakaya culture, MARU-HI will be available in a traditional citrus flavor featuring a lemon-lime blend at 5% ABV. It will come in 6-pack, 12-pack 12oz cans, and 24oz single cans. This launch fits with Suntory’s goal to become the global leader in RTDs by 2030, leveraging its expertise in both spirits and non-alcoholic beverages. The US, the largest RTD market, offers substantial growth opportunities, with the global RTD market projected to reach $50 billion by 2030.
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