Canada is a disaster zone. Margins and growth are poor and show no signs of improving. Curious that a supposed strong beer brand cannot make adequate inroads in a strong beer market. Do you realize how much beer Canadians drink while watching hockey. Second fact: Canadians watch more than just hockey.
Ambev distributes Pepsi products in Latin America including Brazil and Argentina. Coca-Cola is very strong in these markets. Ambev will need a miracle to become dominant in these lines.
Governments are looking for more ways to tax. Public health frowns on profitable beer consumption. There can be significant regulatory head winds impeding Ambev growth.
George Gutowski writes from a caveat emptor perspective