On September 4, Interbrew, The World’s Local Brewer, announced the signing of an agreement with Diageo, according to which the import and distribution rights for Bass® Ale in the USA are transferred to Interbrew. The deal is worth about US$ 105 million (US$ 79 million after tax). By the force of this agreement, Interbrew will obtain operating control of the Bass® Ale brand in the USA by June 30, 2003.

The brand will give Interbrew operational control of 7 out of the top 12 best-selling imported beers in the USA market, as well as 23.7% of the import area. Bass Ale accounts for more than 25% of all super-premium imported beers in the US.

"We look forward to working with Diageo on developing Bass® Ale in the US market during the transition period until June 2003," said Hugo Powell, Interbrew's CEO. "I firmly believe that Bass® Ale will considerably enhance our portfolio of brands, and strengthen our position in the rapidly growing import segment of the market."

05 September, 2002