CR Snow

CR Snow, officially China Resources Snow Breweries Ltd., is a Chinese brewing company headquartered in Beijing. The company developed from the Shenyang Snow Beer Company and became part of the China Resources business through China Resources Enterprise. It was subsequently operated as a joint venture between China Resources Enterprise and SABMiller, the United Kingdom-based international brewing group, before China Resources acquired full ownership. The company is principally associated with Snow beer, which became the leading beer brand in China by volume and was described in the reference material as the world's best-selling beer by volume. CR Snow's scale is rooted in China's large domestic beer market and in a broad manufacturing and brand portfolio rather than in a single premium international label. Its brands include Snow alongside Blue Sword, Green Leaves, Huadan, Huadan Yate, Largo, Löwen, New Three Star, Shengquan, Shenyang, Singo, Sip, Tianjin, Yatai, Yingshi and Zero Clock. CR Snow expanded its brewing footprint through acquisitions and investments in regional breweries. In July 2011 it acquired a 49 percent interest in Jiangsu Dafuhao Breweries and all of Shanghai Asia Pacific Brewery from Heineken International for 870 million yuan. The transaction strengthened CR Snow's presence in additional Chinese brewing markets and added production assets to its portfolio. The company was identified in the reference material as China's largest brewing company, with an approximately 21 percent market share and reported 2010 sales of 9.28 billion litres of beer in China. These figures are historical and describe the period around 2010 rather than a current performance estimate. CR Snow's business remains focused on brewing, brand management, distribution and the operation of a geographically broad Chinese beer platform. Because the supplied reference material contains limited current corporate information, present-day ownership structure beyond the stated full ownership by China Resources Enterprise, current executive leadership, website and recent operating results are not specified here.

CR Snow traces its origins to the Shenyang Snow Beer Company. The business was brought into the China Resources system through China Resources Enterprise and later operated in partnership with SABMiller, a United Kingdom-based multinational brewing company. This joint-venture structure combined China Resources' domestic commercial platform with SABMiller's international brewing experience. The company subsequently became wholly owned by China Resources Enterprise. The company's development reflects the consolidation and regional expansion of China's brewing industry. Rather than relying only on one national product, CR Snow built a portfolio of local and regional beer labels, including Blue Sword, Green Leaves, Huadan, Huadan Yate, Largo, Löwen, New Three Star, Shengquan, Shenyang, Singo, Sip, Tianjin, Yatai, Yingshi and Zero Clock. Snow remained the principal brand and became the company's most prominent volume offering. The supplied reference material describes Snow as the world's best-selling beer by volume in 2010, with sales of approximately 16.5 billion pints that year. CR Snow also expanded through brewery transactions. In July 2011, it purchased a 49 percent stake in Jiangsu Dafuhao Breweries and acquired all of Shanghai Asia Pacific Brewery from Heineken International. The reported purchase price was 870 million yuan, equivalent at the time to approximately US$134.42 million. These transactions increased the company's production and market presence in China and illustrate its strategy of adding regional brewing assets to an existing national platform. By 2010, the reference material identified CR Snow as China's largest brewing company, with an estimated domestic market share of about 21 percent and total Chinese beer sales of 9.28 billion litres. Those figures are historical and should not be treated as current operating data. The available source material does not provide a detailed chronology of plant openings, later product launches, current management, or recent financial performance. Accordingly, the documented history is strongest for the company's origins, ownership evolution, brand portfolio and 2011 acquisition activity.

1. 2011Acquisition of Jiangsu Dafuhao and Shanghai Asia Pacific Brewery

   CR Snow acquired a 49 percent interest in Jiangsu Dafuhao Breweries and all of Shanghai Asia Pacific Brewery from Heineken International for 870 million yuan.

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2. 2010CR Snow reported as China's largest brewing company

   The company was described as holding approximately 21 percent of China's beer market and selling 9.28 billion litres of beer in China during the year.

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3. 2010Snow identified as a global volume leader

   Snow was described as the world's best-selling beer by volume, with approximately 16.5 billion pints sold during the year.

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A large-scale Chinese brewing company centered on mass-market beer production, a broad regional brand portfolio and extensive domestic distribution. Snow is the core volume brand associated with the company.

• SnowBeer

  Snow is CR Snow's principal beer brand and the central volume label in its portfolio. It is associated with the company's nationwide Chinese brewing platform and was identified in the reference material as the world's best-selling beer by volume in 2010. The supplied material does not specify individual variants, formulations or current packaging.

• Blue SwordBeer

  Blue Sword is one of the regional or portfolio beer brands listed as belonging to CR Snow. The available source confirms its inclusion in the company's brand family but does not provide detailed information about its geographic focus, recipe, positioning or current availability.

• Green LeavesBeer

  Green Leaves is a beer brand in CR Snow's reported portfolio. No additional product specifications or current market information are supplied in the reference material.

• Huadan and Huadan YateBeer

  Huadan and Huadan Yate are beer labels listed among CR Snow's brands. The supplied reference does not distinguish their product formats, markets or present status.

• Largo and LöwenBeer

  Largo and Löwen appear in CR Snow's reported beer portfolio. The available material provides no further information on their positioning, geographic distribution or current production.

• New Three Star, Shengquan and ShenyangBeer

  New Three Star, Shengquan and Shenyang are additional beer brands associated with CR Snow. The source confirms the names as part of the portfolio but does not describe their individual products or markets.

• Singo, Sip, Tianjin, Yatai, Yingshi and Zero ClockBeer

  These labels are listed among CR Snow's other beer brands. Their inclusion illustrates the breadth of the company's regional portfolio, although the supplied source does not provide separate descriptions or current availability for each label.

• 2011Purchase of regional brewery assets from HeinekenM&A

  CR Snow sought to expand its Chinese brewing platform through additional regional production interests and facilities.

  What changed. It acquired a 49 percent stake in Jiangsu Dafuhao Breweries and 100 percent of Shanghai Asia Pacific Brewery from Heineken International.

  Aftermath. The transactions broadened CR Snow's brewery asset base in China. The supplied material does not report subsequent operating results for the acquired businesses.

  Transaction value. 870 million yuan (July 2011)

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• Transition to full China Resources ownershipStrategy

  CR Snow was initially structured as a joint venture between China Resources Enterprise and SABMiller.

  What changed. China Resources Enterprise ultimately became the company's sole owner.

  Aftermath. The company continued as part of the China Resources business rather than as a joint venture with SABMiller.

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• 2011CR Snow acquires stakes in Jiangsu Dafuhao Breweries and Shanghai Asia Pacific Brewery

  In July 2011, CR Snow acquired a 49 percent stake in Jiangsu Dafuhao Breweries and full ownership of Shanghai Asia Pacific Brewery from Heineken International for 870 million yuan.

  M&A
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• China Resources takes full ownership of CR Snow

  CR Snow was initially operated as a joint venture between China Resources Enterprise and SABMiller and later became fully owned by China Resources Enterprise.

  M&A
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1. CR Snow