Brewer eyes competitors after Snow Beer buyout

China's top brewer could start acquiring smaller competitors to cement its leading position in the Chinese beer market, after buying out venture partner SABMiller Plc and taking full ownership of the world's best-selling Snow Beer.

China Resources Beer Holdings Co on Wednesday agreed to buy SABMiller's stake in Snow Breweries for $1.6 billion, smoothing the way for a takeover of its partner by Anheuser-Busch InBev NV. The Hong Kong-listed unit of China Resources Holding Co currently owns 51 percent of the venture.

"Once the SABMiller deal is completed, they may start to buy some small breweries again," said Bloomberg Intelligence analyst Duncan Fox. Potential targets include Beijing Yanjing Brewery Co, China's fourth-biggest brewer by volume, although deals would be subject to balance sheet constraints, he said.