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Beer Marketer's INSIGHTS

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Beer Marketer's INSIGHTS, our flagship newsletter, is published 23X a year. For the last 38 years, it has frequently been the first and often only publication to report the most important beer industry facts, trends, and insights. Each issue features four info-packed pages. Inside, you'll find the latest news and numbers about the US beer business, with a special focus on exclusive articles and analysis. Readers of Beer Marketer's INSIGHTS get the info necessary to stay abreast of the latest industry events, and the understanding of those events. Here's just a small sampling of what you'll find inside:

Beer Marketer's INSIGHTS is written by the most experienced and knowledgeable staff serving the industry. More execs keep up-to-date by reading Beer Marketer's INSIGHTS than any other beer industry publication.

Join thousands of beer industry executives, ad agency representatives, government regulators, bankers, analysts, attorneys, and others who need to know as much as possible about the beer industry. These execs benefit from INSIGHTS' authoritative reporting and analysis. Put that advantage to work for you. A one year-subscription is priced at $750 dollars (add $25 outside of US). As with all our newsletters, we offer a money-back guarantee: if Beer Marketer's INSIGHTS fails to meet your expectations, we will gladly refund the unused portion of your subscription.

When Carlsberg & Heineken finally agreed to pay Scottish & Newcastle’s asking price of $15.4 bil (after protracted wrangling), it was easily biggest global beer buy yet in terms of money changing hands. The 2 cos will split S&N’s near 50 mil bbls (including prized half stake in BBH). Takes #6 global brewer off the table. Deal expected to close in a few mos. And so global consolidation continues as key trend of 21st century. Several hundred million barrels added to top 5 brewers’ totals in last 5 yrs, between deals and growth. That’s over 20% of global volume. Top 5 about half of global biz now, less than 1/3 5 yrs ago. Including deals announced but not yet closed, each of InBev, SAB, Heineken & Carlsberg have approximately doubled in last 5 yrs (InBev 2.5x). Brewers count bbls in different and confusing ways (especially their stakes in other brewers), but any way you cut it, AB hasn’t kept pace. It’s up about 25%+ same period. AB fell from #1 to #3 globally by volume. With latest deal, Heineken volume total also moves considerably closer to AB. Heineken now will become #1 in tuff UK mkt. As for Carlsberg, it…

Publishing Info

  • Year 2008
  • Volume 39
  • Issue # 3
Most beer stocks had solid gains in 07, with several growing double-digits.  AB stock price increased 6.4% to 52.34 in 07, matching gain pace of Dow Jones Avg for yr, tho it’s popping in early 08.  MolsonCoors stock had best gain in 07: +35% to 51.62. (Stock had 2 for 1 split in early Oct.)  Large global brewers racked up big gains again in 07: InBev  +15%, Heineken +23% and SABMiller +19%.  Looking at trends over last 5 yrs, SABMiller (+221%) and InBev (+153%) led way.  Heineken (+19%), AB (+8%) lagged.  Craft beer stocks were up again in 07, but at slower pace as cost/profit pressures mounted.  Boston Beer up 5% in 07, despite huge hit in Nov.  Up 163% last 5 yrs.               2007     2006      2005    2004    2003     2002   07 %Chg   07vs02 %Chg AB           52.34    49.20    42.96   50.73   52.68    48.40     6.4%       8.1% MolsonCoors  51.62    38.22    33.50                             35.1%            InBev*       57.00    49.52    36.77   28.54   21.16    22.50    15.1%     153.3% Heineken*    44.22    36.03    26.78   24.53   30.19    37.20    22.7%      18.9% SABMiller* 1416.00  1185.00  1061.00  864.00  579.00   441.50    19.5%     220.7% Boston       37.65    35.98    25.00   21.27   18.14    14.30     4.6%     163.3% Pyramid       2.45     3.07     2.55    2.10    3.44     2.99   -20.2%     -18.1% RedHook       6.65     5.20     3.17    3.51    2.60   …

Publishing Info

  • Year 2008
  • Volume 39
  • Issue # 1
Craft volume continues to sail along at double-digit growth rates.  Even coming down home stretch of 07, when some signs of overall retail slowdown and imports hit stormy shipments weather, craft guys still going great guns.  Craft $$ sales up 16.5% and gained 0.9 share to 7.8 in latest 4 weeks thru Dec 2 in supers, sez IRI.  That was bigger than Bud (7.4 share), and a milestone of sorts (as reported in INSIGHTS Express).  For 13 weeks, Boston Beer $$ up 24% and gained 0.3 share, led by a staggering 38% $$ gain in Seasonals.  Seasonals considerably bigger than Boston Lager for 13 weeks.  Recently, New Belgium returned to robust growth rate; $$ sales up 18% for 13 weeks too.  Many sizable craft brewers (those 40-125,000 bbls) self-report growth of 20-40% in 07.  And no signs that consumer taste for variety, flavor, innovation going away anytime soon.    At same time, there are clouds on horizon for craft brewer financials, especially sharp rise in raw materials such as barley and hops (well-documented in numerous media articles).  Cost pressures so bad that there’s even talk that a fair number of smaller brewers may be unable to make it thru 08.  Others…

Publishing Info

  • Year 2007
  • Volume 38
  • Issue # 23
12/02/2007

AB 4th qtr sales-to-retailers continued up at same sluggish pace as in 3d qtr, up 2.2% including acquisitions; core brands up 0.5% thru week of Thanksgiving, cfo Randy Baker told analysts Nov 29. With AB core brand STRs down 1.5% in 1st half, and tuff Dec comp coming up, likely AB core brands will be down at retail in 07. Randy repeated several times that there have been

Publishing Info

  • Year 2007
  • Volume 38
  • Issue # 22
Rough reports for imports could signal slowdown or maybe reality is just catching up.  Import shipments to US fell 261,000 bbls, 11% in Sep, but are still up 1.1 mil bbls, 5% for 9 mos.  Import shipment trends have run faster than depletions all yr long.  So this was bound to happen.  Imports face gigantic comps for rest of yr too.  Up 1.6 mil bbls, 27% in 4th qtr 06.  Suggests shipments growth will slow further still, especially since Crown about flat, HUSA up mid-singles and InBev said its Euro brands down in US in 3d qtr, tho less than they had been down in 2d qtr. Recall, last time Corona and Heineken took a price increase (2004), imports barely eked out a gain.  In 05, they were back on track.  But in 2007, top 2 import brands (46% of segment) show some signs of losing steam with Corona down slightly and Heineken barely up.  That does raise concerns they may have lost some of their specialness.  Brandweek headlined: ”The Party May Be Winding Down for Beer Imports.”  Asked: “Is imported beer losing its cachet?”  Top 15 import brands make up 78% of import sales in supers, said IRI exec…

Publishing Info

  • Year 2007
  • Volume 38
  • Issue # 21
Ain’t just AB warning of “significant cost pressures” in 2008. Company comments, articles and research on costs ran rampant in recent weeks, especially concerning agricultural commodities. Barley and hops prices are thru the roof these days, with articles citing 50-100% increases in malt and barley prices (relatively small % of total big brewer costs, but gotta note). “Beverage Margins squeezed by input costs” was title of lengthy UK research piece by Dresdner Kleinwort in late Oct. Energy and metals “reached all-time high” in last 18 mos, and “raw material prices are close to an all-time high,” wrote Simon Hales of DrKw. “Brewers are most exposed to higher raw material costs.” Another competitive advantage for spirits, which also feel heat, but it’s less pronounced for them. Spirits cos also better able to price up, wrote DrKw. For both brewers and distillers, earnings “likely to come under increasing pressure in 2008 and 2009.” While “price increases should mitigate some of the downside,” beer biz “has a poor track record on pricing, notably in developed markets.” Editor’s note: earlier in 21st century, US beer prices increased above inflation for several yrs before returning to below inflation last 2 yrs, and about in-line this…

Publishing Info

  • Year 2007
  • Volume 38
  • Issue # 20