South African Breweries Acquires Miller to Form SABMiller

In 2002, South African Breweries acquired Miller Brewing Company from Philip Morris and adopted the name SABMiller. The transaction joined a brewer with extensive African and emerging-market operations to a major United States producer and made the combined company the world’s second-largest brewer by reported lager volume. The deal illustrates how formerly national brewing companies were becoming transcontinental portfolios. It also prepared SABMiller to take part in the next phase of global beer-industry consolidation.