ABSTRACT
mergers in brewing have taken place both at times of good trade, and at times of bad trade, because, fundamentally, the drive to amalgamate rests on growing economies of scale and on the imperfect retail market to which entry is restricted by the licensing system. Despite the extent of the merger movement there are still over 300 firms in the industry; by comparison with other industries the degree of concentration 533 is not high, although it is increasing rapidly. In any area there is usually a choice of tied houses and within many of these houses there is some choice at least of bottled beers.
