The US FTC and DoJ, which rejected the legitimacy of the "portfolio effects" doctrine over 20 years ago, could revisit their opinion over the acquisition of a brewery by a Japanese beverages company (Bell's Brewery / Kirin)

Bayer, Sarah

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10 Nov 2021

The US FTC and DoJ, which rejected the legitimacy of the "portfolio effects" doctrine over 20 years ago, could revisit their opinion over the acquisition of a brewery by a Japanese beverages company (Bell’s Brewery / Kirin)

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References

Market Watch, Bell’s Brewery / Kirin, Report, 10 November 2021

US Court of Appeals for the Sixth Circuit, Conwood / U.S. Tobacco, 290 F.3d 768 (6th Cir. 2002), 15 May 2002

Bell’s Brewery Sale May Tap Into Longstanding Portfolio Effects Debate* The announced acquisition of Bell’s Brewery by Japanese conglomerate Kirin provides an opportunity to reexamine the much-maligned “portfolio effects” doctrine of merger analysis. Bell’s, the Michigan-based craft brewer of Oberon and Two Hearted Ale, will join Fat Tire maker New Belgium within the Lion Little World Beverages subsidiary of Kirin. Kirin owns a wide array of brands globally, as well as firms in other industries such as pharmaceuticals, real estate, and agricultural biosciences. The antitrust concerns surrounding consolidation of the beer industry have previously been reported in this blog. As a result of a series of mergers, the U.S. beer market is dominated by two transnational conglomerates, InBev and

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Author

Sarah Bayer
Constantine Cannon (New York)

United States 3 contributions 623 visits

Quotation

Sarah Bayer, The US FTC and DoJ, which rejected the legitimacy of the "portfolio effects" doctrine over 20 years ago, could revisit their opinion over the acquisition of a brewery by a Japanese beverages company (Bell’s Brewery / Kirin), 10 November 2021, e-Competitions November 2021, Art. N° 103804

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