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South African Breweries (SAB) second Broad-based Black Economic Empowerment (B-BBEE) scheme Zenzele Kabili will be listed on the JSE on 28 May, after 95% of shareholders who cast their votes did so in favour of the listing.
Zenzele Kabili follows on the success of the beer maker’s first scheme, Zenzele, which was launched in 2010 and reached a maturation value of R9.7 billion this month.
The shareholders, made up of retailers who include tavern and bottle store owners, as well as the beer maker’s employees who invested R100 in 2010, will receive a R77 518 pre-tax payout when Zenzele unwinds later this month. The owner of the Carling Black Label and Brutal Fruit brands held an AGM for shareholders on Monday, during which they cast their votes.
AB InBev’s Beyond Beer business – which includes brands such as Mike’s Hard, Flying Fish and Bud Light Seltzer - generated more than $1bn in 2020 and grew by more than 40% in Q1, 2021.
Known primarily as the world’s largest brewer - with big global brands such as Budweiser, Bud Light and Stella Artois - AB InBev now identifies the emergence of a ‘fourth key category’ between beer, wine and spirits: the ‘beyond beer’ category which includes RTD alcohol, canned cocktails, hard seltzers and flavored malt beverages.
“The lines between the established segments within alcohol - beer, wine, and spirits - continue to blur. A fourth category, defined as the intersection between these segments, has emerged as a relevant player with significant growth potential,” said Carlos Brito, CEO, speaking in last week s Q1 2021 earnings call.