The dilemma of liquor industry expansion: endogenous or episodic?

Wang Chuancai, chairman of Dazhongzhizheng Marketing Co., Ltd., told the "First Financial Daily" that Moutai proposed that the acquisition of a local small enterprise to form "Great Maotai" is actually a strategic mistake. "Boats can't even become aircraft carriers." ""

The high-speed development of the liquor industry in recent years has made both the industry and foreign capitals and companies happy to think of a share from it.

Recently, Liu Zili, general manager of Guizhou Maotai Group, proposed that in accordance with the laws of the market economy, integrate resources and optimize resource allocation. You can select and restructure a batch of alcoholic companies in Renhuai and even Zunyi regions to realize extensional expansion and realize “big” as soon as possible. "Maotai" conception. Tang Liang, Chairman of Wuliangye Group, also stated during the Wuliangye “12·18” dealer conference at the end of last year that Wuliangye must merge, reorganize, acquire, and integrate liquor companies from all over the country. It can also cooperate with other companies to establish filling centers. Wuliangye A senior executive even said privately that the acquisition of Wuliangye in 2012 will surely have results.

However, Wang Chuancai, chairman of Dazhongzhizheng Marketing Consultant, told the "First Financial Daily" that Moutai proposed that the merger of local small businesses to form "Great Maotai" is in fact a strategic mistake. "Boats can't even join together. "Aircraft carrier", this integration is more of the wishful thinking of the local government. Liquor companies rely on endogenous growth or expansion to create disagreements in the industry.

Forerunner Huaze has always been known to the industry as a well-known liquor company operator under the name of a well-known liquor company. Actually, in addition to the Wuliangye, Kweichow Moutai, and Xifeng wine dealers, Since the formation of the Huaze Group in 2006, the Huaze Group has launched a whirlwind acquisition campaign. Its mergers and acquisitions of liquor companies have spread throughout Heilongjiang, Jilin, Shandong, Shaanxi, Anhui, Guangxi, Hunan, Sichuan, and Guizhou, and have covered Incense, aromatic, rice, Fengxiang, Maoxiang and other five important liquor flavor.

However, the prospectus published at the end of last year disclosed by Huada Wine Company disclosed that 10 liquor companies other than Jinliufu Wine Group and Guangdong Deqing's incomparable health wine industry (mainly engaged in healthcare wine) were not included in the first half of 2011. There are Hunan Xiangjiao and Shaanxi Taibai, whose sales revenue is over 50 million yuan, which is 264 million yuan and 79.62 million yuan respectively. Heilongjiang Yuquan, Anhui Linshui, Guilin Xiangshan, Guizhou Zhenjiu, Jilin Yushu money, Jiangxi Lidu 6 companies sell The income is between RMB 50 million and RMB 10 million. Tengzhou Modern Spring and Hunan Yanfeng are all no more than RMB 10 million.

“Frankly speaking, I'm not very satisfied.” According to the overall development of many liquor companies that came from mergers and acquisitions, an executive of the Huaze Group recently told reporters privately that this is because the original products of these companies are mainly low-end products. And in recent years, the company has spent a lot of resources on technology.

After the Huazawa Group spent 94.98 million yuan in 2009 to obtain control of Shaanxi Taibai Liquor, this type of acquisition was seldom performed. The above-mentioned Huaze Group executives stated that this does not mean that the company will not conduct similar mergers and acquisitions in the future. However, the company At the moment, the existing liquor companies will be well prepared. The senior executive stated that the company will invest several billion yuan in this part of the business in the next few years.

Wang Chuancai interviewed by this reporter said that the acquisition of a liquor company must have a strategy beyond, for different corporate brand value assessment, such as Huaze's Shaanxi Taibai such a brand gene is better, suitable for national promotion, as well as the introduction of pricing In the 500 to 600 yuan main product, rather than compressed into regional brands.

In addition, Diageo, which is also a merger and acquisition starter, has extremely stringent requirements for the M&A target in its mergers and acquisitions, and Huazeze is more likely to proceed with the acquisition from the market. Therefore, the M&A of liquor companies is more widely distributed.

Cooperation or mergers and acquisitions In fact, Huazawa, which began to integrate industries early on, is not alone. Both Kweichow Moutai and Wuliangye are brewing M&As.

“The key to extension-type mergers and acquisitions of wine companies is to grow on a platform.” Wang Chuancai believes that from this perspective, “The expansion of Yanghe’s extension acquisitions is a discount.” The Shuanggou after the acquisition of Yanghe was originally “China. One of the famous wines, but from the sales data point of view, the growth is not obvious, Yanghe did not carry out the national layout of Shuanggou brand, but based on Sulu Yuxi and other places, and the original product design and other aspects have certain advantages of the main products The Shuanggou Jinbaofang market is also growing in general.

Last year, Langjiu, whose sales exceeded 10 billion yuan, made a very different choice and gave up on mergers and acquisitions.

“Langjiu will not be merged or merged,” said Wang Junlin, chairman of Langjiu Group, who told the reporter during the groundbreaking ceremony for the 17,000 tons premium sauce production base of Langjiu Group Wujiagou held on the 17th.

In 2008, Langjiu also proposed plans to distribute 10 real estate liquor companies nationwide, but they gave up soon after. Wang Junlin told this reporter that at the time, after studying, he believed that the development model of M&A was not suitable for Langjiu. “It is difficult for small companies to form a strong brand. Therefore, it is difficult to form a strong brand. Therefore, we should change direction and pay more attention to our own development to form a professional model. This is not the same as Yanghe's development model." Wang Junlin made it clear that because of this, Langjiu will not go for mergers with other liquor companies.

However, Langjiu hopes to use its strengths in marketing to cooperate with other wine companies. Wang Junlin said that the company is exploring to cooperate with some Maotai-flavored enterprises with a certain scale along the Chishui River. These enterprises face certain marketing shortcomings and the company may use their base wines based on certain quality standards. Some mid-range wines are driving the development of the liquor industry in the entire Chishui River area. Wang Junlin mentioned that the company had begun similar cooperation in Chenzhou five years ago.

According to the reporter’s understanding, at present, Langjiu has established a joint venture with Luzhou Sanxi Liquor Group in Sichuan to build a production base of Luzhou-flavor liquor with an annual production capacity of 40,000 tons in Luzhou, Sichuan Province.

According to Langjiu's plan, the Langji Wujigou base will be completed and put into operation in 2014. By then, Langjiu will have 50,000 tons of high-quality sauce production capacity, becoming the largest sauce production base in China, according to the current Langjiu wine. The market price of the main product, Honghualang, is statically calculated. By 2014, Langjiu will have a production capacity of 50 billion yuan in annual sales of sauce.

Disposable pressure transducer

Zhejiang Haisheng Medical Device Co., Ltd , https://www.hisernmedical.com