A view of Gold Medal Taiwan Beer bottles, brewed by Taiwan Tobacco & Liquor Corp. (Photo: www.freeradicalsinchina.com)
Gold Medal Taiwan Beer, a brand brewed by Taiwan Tobacco & Liquor Corp., and Sapporo Vietnam Co. Ltd., a fully owned subsidiary of Japan’s Sapporo International Inc., have struck a deal to open a brewery in Vietnam, Focus Taiwan cited a source as saying.
Under the deal, Sapporo Vietnam will be responsible for production of Taiwan Beer in the southern province of Long An, near Ho Chi Minh City, while a Vietnamese company will handle the marketing.
Taiwan Beer is expected to make debut in the Vietnamese market before March 2016. This is the first overseas venture by Taiwan Tobacco & Liquor Corp. producing alcoholic products.
With a population of more than 90 million, Vietnam is one of the world’s largest consumers of alcohol and fastest-growing beer markets.
According to Euromonitor, beer sales in the country were around 3.1 billion liters worth some $3.1 billion in 2014.
Taiwan Tobacco & Liquor Corp was set up in Taipei in 1901. Its sales reached $2.6 billion in 2013 and its Taiwan Beer takes a 70% of the domestic market share.
Japan’s Sapporo International Inc. in September acquired a 29% stake in Sapporo Vietnam Co. Ltd. (SVL) from state-owned Vinataba, its joint-venture partner, for $8.28 million, making the brewing company its wholly-owned subsidiary.