The Tsingtao Brewery China’s largest has agreed to buy the Shandong Yinmai Beer Co., the third brewery it has taken over in two years.
Wang Fan, vice chairman of Tsingtao Brewery, said the deal would consolidate Tsingtao Beer’s dominance in the market in Shandong amid fierce competition. Yinmai will continue to make Yinmai beer. This is different from Tsingtao’s takeover of two other local breweries of Yantai Beer and Baotu Spring Beer, whose trademark beers disappeared.
Tsingtao Brewery, which was founded in 1903 in Qingdao City, is best known for the internationally distributed Tsingtao beer.