Grupo Modelo, the makers of Corona, will be partnering with Anheuser-Busch (who owns 50% of non-voting stock in Modelo) in China. As of next month, January 2007, A-B will import Grupo Modelo beers throughout China.
Modelo also distributes Anheuser-Busch beers in Mexico and beginning shortly, will also bring Tsingtao to Mexico. Not surprisingly, A-B also owns a piece the Chinese brewer, too.
From the press release:
“This new partnership ideally complements the international strategy that Modelo has successfully implemented for several decades. We are very pleased with this association, which offers excellent long-term growth opportunities for Grupo Modelo’s brand portfolio in China, a very important market for our company,” stated Carlos Fernandez, chairman of the board of directors and chief executive officer of Grupo Modelo.
“The popularity and high quality of Corona Extra makes it an excellent complement to our Budweiser and Harbin beers,” said August A. Busch IV, president and CEO of Anheuser-Busch Cos. Inc. “Corona Extra competes in the super-premium segment of the market, which is experiencing strong growth. With our continued success in this segment, and our 10 years of sales, marketing and distribution experience, we expect to significantly increase the sales of Corona.”