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Food & Beverage

China's top brewer to close a third of plants after M&A binge

CR Beer slims down faster as Chinese drink more wine and whiskey

DALIAN, China -- Snow beer maker China Resources Beer (Holdings) will close as many as one-third of its breweries over five years after a buying spree left its capacity bloated.

China's biggest beer company, which had 74 breweries across the country as of this spring, plans to shut down three to five locations a year through 2024.

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