Heineken Buys a Brewery From Carlsberg in Southeast Asia's Thirstiest Beer Market
- Heineken buys Carlsberg’s Vietnam brewery to increase capacity
- Vietnam’s young beer-drinking culture beckons foreign brands
Empty bottles for Heineken beer move along the production line at the Heineken NV brewery in Saint Petersburg, Russia, on Wednesday, Nov. 18, 2015. Heineken reported estimate-beating sales growth boosted by a warm European summer as the world's third-largest brewer prepares to become a distant number two.
Photographer: Andrey Rudakov/BloombergHeineken NV’s expansion of its production in Vietnam by taking over a brewery from rival Carlsberg A/S highlights growing interest by global beer brands to quench the thirst of about 70 million locals in one of the world’s fastest-growing economies.
With a thriving street-side cafe and bar culture, young population and rising middle class, Vietnam is luring brewers such as Heineken, Thai Beverage PCL and Asahi Group Holdings Ltd. to expand in the country. Interest is also being piqued by the government’s plans to offload lucrative assets, with Carlsberg in line to more than double its stake in state-run Hanoi Beer Alcohol Beverage Corp. or Habeco.