SABMiller on Monday announced the completion of the acquisition of the Sparks and Steel Reserve brands from United States contract brewing partner McKenzie River Corporation.
Following approval from US antitrust authorities, SABMiller assumes ownership of the brands and related trademarks for the caffeinated malt beverage franchise Sparks and leading high-gravity lager Steel Reserve.
SABMiller will continue to work with McKenzie River to develop new products.
Tom Long, president and CEO of Miller Brewing Company, said: “We acquired these two fast-growing brands to improve our portfolio mix and increase our overall profitability. Importantly, the new product development relationship with McKenzie River president Minott Wessinger will further expand our innovation capability and expertise.” — I-Net Bridge