AB InBev & SABMiller Risk Differentiation Without A Difference

The possible $122 billion merger between the world’s two largest beer conglomerates might yield significant economies of scale, but in doing so put at risk the consumer brands upon which its businesses are premised. Think Roberto Goizueta’s vision to place a Coke “within an arm’s reach of desire” for every thirsty person in the world, only the distribution would be via a generic spigot labeled beer. The parallels to Coke are illuminating, considering both it and the two beer companie...