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South African Breweries was founded in 1895 by Jacob Letterstedt specifically to serve a new market of miners and prospectors in and around Johannesburg. Two years later, it became the first industrial company to list on the Johannesburg Stock Exchange (JSE). more...

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It has been a dominant player on the exchange ever since. In 2002, the company merged with Miller Brewing Company, forming the world's second largest brewery; the combined company is now known as SABMiller.

In 1955, the government introduced a heavy tax on beer products causing many consumers to switch to spirits. However, the subsequent shock to the South African beer industry proved to be a blessing in disguise for SAB. A year after the introduction of the policy, the company purchased its two main competitors, both of whom were struggling under the depressed demand for beer. After the acquisitions the new and larger SAB was able to rationalize operations, thereby reducing costs and increasing profitability. By 1998, SAB commanded a 98 per cent share of the South African beer market and was considered one of the lowest cost producers of beer in the world.

The company’s earliest international venture was in 1910 when it founded Rhodesian Breweries in Southern Rhodesia, now Zimbabwe. This subsidiary spearheaded SAB’s initial international expansion efforts, having established new breweries in Northern Rhodesia, now Zambia and Bulawayo, Southern Rhodesia, in the early 1950s. Further international expansion came in the 1970’s and 1980’s with the establishment of breweries in Botswana, Angola, and the buying of Compañía Cervezera de Canarias of the Canary Islands. Nevertheless, prior to 1990, SAB remained primarily focused on domestic opportunities.

From 1990 to 1998, group turnover had increased by a compound rate of 17 per cent per year, and earnings had grown by 18 per cent per year. With brewing operations in 19 countries and a total annual capacity of nearly 43 million hectoliters, SAB was the fourth largest brewing group in the world. It was also the third largest conglomerate in South Africa, behind De Beers and Anglo American.

As its name implies, the company was based in South Africa and focused chiefly on African and East European markets. In 1999, it moved its headquarters to London in an effort to enter the international market. Its biggest brands at the time included Pilsner Urquell, Castle Lager, Lech and Ursus, which are all still being produced. In 2002 it acquired Miller Brewing and created SABMiller from the merger.

As the South African subsidiary, SAB Ltd is still the largest contributor to SABMiller’s global earnings.

In December 2004, SAB Ltd acquired 100% of Amalgamated Beverage Industries Limited, which became the Soft Drink division of the South African Breweries Limited, and the largest beverage company in South Africa was created.

Early History

Prior to incorporation in the year 1895, the predecessor of SAB had operations in Cape Town to serve the steady expansion of a settler community from the mid-1600s. The demand for beer prompted the first Dutch governor, Jan van Riebeeck, to establish a brewery at the Fort (later replaced by the Castle in central Cape Town) as early as 1658 - beating the first wine production by six months. In the same year, Pieter Visagie brewed the first beer from the waters of the Liesbeeck River. Over the next 200 years, brewing made its mark in the Cape and beyond. Noted brewers of the time included Cloete at the Newlands Brewery; Ohlsson at the Anneberg Brewery; Letterstedt at Mariendahl Brewery - also in Newlands: Hiddingh at Cannon Brewery; Martienssen at the Salt River Brewery, and a second Cloete in Kloof Street.

Read more at Wikipedia.org