Sector News

AB InBev acquires stake in RateBeer.com

June 12, 2017
Food & Drink

The famous beer platform RateBeer.com, which publishes annual lists of the best beers and breweries, is now partly owned by AB InBev. This does not sit well with a number of smaller companies.

Deal raises eyebrows
The world’s largest beer brewer bought a minority stake in RateBeer.com through its investment firm ZX Ventures after an alleged eight months of negotiations. Apparently, the transaction took place last October, but remained under wraps until now. It is not clear how much AB InBev paid for the deal.

When the news was revealed on several American news sites several days ago, plenty of people raised their eyebrows. Particularly smaller breweries, which may own their fame to the popular website’s ratings, were not very pleased.

CEO Joe Tucker quickly responded to clarify why he chose ZX Ventures. “Their comfort with technology, existing tech resources, beer loving culture, enthusiasm and respect for the community, an understanding of varied beer cultures globally, the stability of their company and dedication to preserving our independence made ZX the very best fit”, he wrote. “I know this is surprising to many out there, but I’m confident I made the best possible decision.”

Not everyone agrees: the website’s members have asked critical questions about the Belgian-Brazilian brewer’s influence and several smaller breweries have already asked RateBeer.com to remove their beers from the site. According to business paper De Tijd, Brussels-based beer brewer Cantillon also asked the site to do that.

By Karin Bosteels

Source: Retail Detail

comments closed

Related News

September 25, 2022

Coca-Cola names new president of global ventures

Food & Drink

The Coca-Cola Co. has promoted Evguenia (Jeny) Stoichkova to president of global ventures, effective Jan. 1, 2023. Ms. Stoichkova joined Coca-Cola Bulgaria in 2004 and was most recently the president of the company’s Eurasia & Middle East division, a role she has held since 2021.

September 25, 2022

Perfect Day allies with Onego Bio to speed-up launch of animal-free eggs

Food & Drink

US-based Perfect Day, is partnering with Onego Bio, which specializes in creating animal-free eggs, aiming to accelerate the timeline to bring the eggs to the market. The business, with the use of its technology, plans to commercialize animal-free ovalbumin, the most abundant egg white protein extracted through precision fermentation.

September 25, 2022

EU fails on food waste: Report reveals bloc discards more than it imports

Food & Drink

Food waste costs the EU €143 billion per year (US$141.7 billion), with a report by Feedback EU raising the alarm of how it’s vital to reduce waste from farm to fork 50% by 2030 and the only way this will be achieved is by enforcing a mandatory directive forcing the food industry to do better and retailers to pay a tax of food waste.