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The rapid growth of China’s beer industry owes to factors as follows:firstly, the support of national industrial policy; secondly, vast population with huge consumption potential; last but not the least, enormous industrial capital participation, which is the fundamental guarantee of market cultivation. Currently, the industry is increasingly centralized and steadily developing, and tends to be large-scale and collectivized, with steadily improving industrial competition level and overall economic benefits. Whereas demand for beer in developed countries is comparatively saturated and lack of market potential. Therefore, the international beer giants switch their attention to China market one after another to gain the advantages.Anheuser-Busch InBev is a dark horse in the Chinese beer industry. As the largest beer producer worldwide, with advantages in abundant capital, management and technology, etc, it has been involved in a number of mergers and acquisitions on beer enterprises, and under the strategies of localized integration and multi-brand operation, it successfully established in China market. Since the beginning of2011, its annual production and sales has overtaken Yanjing Beer, and has become one of the top three domestic beer enterprises, with increasing market share every year.This paper adopts methods such as data studies, qualitative analysis and quantitative analysis to comparatively systematically analyze and study Anheuser-Busch InBev’s performance on M&A in China based on aspects of both the financial performance and non-financial performance, explains the choice, motivation, pricing, government-orientation, post-merger integration towards the merger of target enterprise, with revelation of internal and external factors of the acquisition and the resulting impact, and finally refines its successful experience in M&A to provide constructive suggestions for reference of domestic enterprise.Study shows that the success of Anheuser-Busch InBev benefits from the right strategy, the precise judgment of target enterprise value, and the integrate strategy and ability of localization. In the meantime of further industrial evolvement and development, new changes will arise in domestic market structure. Chinese beer enterprise shall keep eyes on the trend of beer industry, associate with their distinctive problems, and benchmark the outstanding enterprises to maintain a comparative advantage over the competitive market.
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