Friday marked the end of an era on the JSE as its second-oldest listing and second-largest listed share ceased trading and SABMiller, one of South Africa's most successful companies, was absorbed into the world's largest brewer, ABInBev. Only DRD Gold has been listed on the JSE for longer, having begun trading in 1895. Founded in 1895 and listing in 1897, South African Breweries was the country's third-largest brewer by 1955 - but had the fire-power to buy its two larger competitors, Ohlsson's and Chandlers Union breweries, to snare 98% market share by the second half of the 20th century. During the '70s SAB joined the trend of JSE-listed entities such as Anglo American by accumulating diverse interests and income streams, owning everything from furniture makers to food brands, before the '90s heralded a change in strategy and a honed focus on expansion. After fighting off incursions into its South African territory by the likes of the ill-fated Luyt Breweries, and after a masterstr...
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