How SAB Became SABMiller: Charles Glass, Graham Mackay and AB InBev

A South African brewery became part of a global group

South African Breweries traces its corporate origin to Johannesburg in 1895. ^[1][3][7]

Its Castle Lager business later became the base for the international company SABMiller. ^[3]

AB InBev completed its combination with SABMiller in 2016. ^[10][7]

The history therefore spans a brand, an operating company, a listed group and a current parent. ^[3][7]

The brewery story starts before the company date

AB InBev’s heritage account dates the opening of Charles Glass’s Castle Brewery to 1892. ^[10]

SAB and later group reports use 1895 as the founding year of South African Breweries. ^[1][3][7]

The two dates describe different milestones and are not interchangeable. ^[10][3]

The earlier date concerns the brewing precursor. The later date concerns the corporate institution. ^[10][3]

Charles Glass supplied the brewing origin

SAB credits Charles Glass with brewing Castle Lager and founding the business in 1895. ^[1]

The 2016 SABMiller report also connects Glass, Castle Lager and the first head office. ^[3]

Glass was the founding brewer rather than a later investor or professional manager. ^[1][3]

His product and brewery supplied the identity that the later company carried abroad. ^[1][3]

The early listing added outside capital

SAB listed on the Johannesburg Stock Exchange in 1897. ^[3]

The report describes SAB as the exchange’s first industrial company. ^[3]

A listing changes access to capital and ownership. It does not change who founded the brewery. ^[3]

The company then developed through consolidation, investment and professional management. ^[3]

Domestic consolidation changed the market

SAB acquired its two principal South African brewing competitors in 1955. ^[3]

The company then streamlined production and distribution across the sector. ^[3]

This transaction strengthened its domestic scale before later international expansion. ^[3]

It was a corporate acquisition chapter, not another founding event. ^[3]

Graham Mackay entered as a manager

Graham Mackay joined South African Breweries in 1978. ^[4][5]

He later led the beer business in South Africa and became group managing director in 1997. ^[4][5]

Mackay became chief executive when the group listed in London in 1999. ^[4][5]

He was therefore a company builder and executive, not the original founder. ^[4][5]

African expansion created a wider platform

SAB entered Tanzania in 1994 and then expanded into Angola, Mozambique and Zambia. ^[3]

It also negotiated joint control of a Chinese brewer during the same period. ^[3]

These moves widened the company beyond its South African operating base. ^[3]

They also prepared the group for a larger international capital structure. ^[3]

The London listing changed the group identity

South African Breweries plc made London its primary listing in 1999. ^[4][5]

Mackay became chief executive of the listed company at that point. ^[4][5]

The South African operating business continued inside the wider listed group. ^[4][3]

The listed parent and the local brewer should therefore be treated as separate legal layers. ^[4][8]

The Miller transaction created SABMiller

The group completed the Miller Brewing Company transaction in 2002. ^[4][3]

It then adopted the SABMiller name for the enlarged listed brewer. ^[3]

The name joined a South African corporate lineage with a major United States brewing business. ^[3]

SAB remained the South African operating company within that international structure. ^[3]

Mackay’s role ended before the AB InBev transaction

Mackay became executive chairman of SABMiller in July 2012. ^[5]

The board later moved him to non-executive chairman during medical treatment. ^[5]

SABMiller announced his death on 18 December 2013. ^[6]

His company-building record therefore preceded the 2016 acquisition by almost three years. ^[6][10]

AB InBev completed the combination in 2016

AB InBev records 2016 as the year it combined with SABMiller. ^[10]

The transaction ended SABMiller’s life as an independent listed parent. ^[7]

The former SABMiller group is now held inside the AB InBev corporate structure. ^[7][8]

This ownership event did not remove the SAB operating company or its brands. ^[7][8]

Current subsidiary ownership is clear

AB InBev’s subsidiary list recorded The South African Breweries (Pty) Ltd at 100% on 31 December 2025. ^[8]

The same list recorded ABI SAB Group Holding Limited at 100%. ^[8]

These percentages concern group ownership and voting rights in subsidiaries. ^[8]

They do not describe the ownership of AB InBev itself. ^[7][9]

AB InBev has its own public shareholders

AB InBev is primarily listed on Euronext Brussels under the symbol ABI. ^[7]

It also has a JSE listing under ANH and New York depositary receipts under BUD. ^[7]

Stichting Anheuser-Busch InBev held about 33.6% of voting rights on 13 May 2026. ^[9]

Related reporting persons together held about 39.0% of voting rights on that date. ^[9]

Economic interest and voting arrangements differ

The Stichting held 663,074,832 ordinary shares at 13 May 2026. ^[9]

Its certificates provide linked investors with claims to dividends and other distributions. ^[9]

A shareholders’ agreement coordinates some voting rights among related parties. ^[9]

The record therefore separates share ownership, economic claims and coordinated voting power. ^[9]

Zenzele Kabili owns parent shares, not direct SAB equity

SAB Zenzele Kabili listed on the JSE BEE segment on 28 May 2021. ^[11]

The vehicle holds shares in AB InBev and trades under the code SZK. ^[11][12]

Its qualifying shareholders therefore invest through the listed vehicle into the global parent. ^[11][12]

That structure is different from direct ownership of The South African Breweries operating company. ^[11][8]

Richard Rivett-Carnac leads the South African business

SAB identified Richard Rivett-Carnac as chief executive and BU president on 7 November 2026. ^[2]

His title describes current management authority in the South African business. ^[2]

It does not establish a controlling equity interest in SAB or AB InBev. ^[2][9]

Management, subsidiary ownership and parent voting rights remain separate categories. ^[2][8][9]

The current corporate chain has four distinct layers

Charles Glass supplied the brewery, product and founding story. ^[1][3]

Graham Mackay helped turn the South African company into SABMiller. ^[4][5]

AB InBev now controls the former group and its South African operating subsidiary. ^[7][8]

Rivett-Carnac manages SAB within that parent structure. ^[2]

Each record answers a different business question

The 1892 brewery date explains where the brewing activity began. ^[10]

The 1895 company date explains the start of SAB’s corporate history. ^[1][3]

The 1897 listing explains when the company entered the public capital market. ^[3]

The 1999 London listing explains the shift to an international listed parent. ^[4][5]

The 2002 transaction explains why the SABMiller name appeared. ^[4][3]

The 2016 combination explains why AB InBev now sits above the former group. ^[10][7]

The 2025 subsidiary schedule explains the ownership of the South African operating company. ^[8]

The May 2026 filing explains major voting interests in AB InBev itself. ^[9]

The November 2026 leadership page identifies the manager of the current SAB business. ^[2]

None of these records alone answers every question about founding, ownership, voting and management. ^[1][8][9][2]

Frequently asked questions

Who founded SAB? SAB credits Charles Glass with founding the business in 1895. ^[1]

Why does 1892 also appear? It dates the opening of the Castle Brewery precursor. ^[10]

Who built SABMiller? Graham Mackay was a central executive builder from 1978 to 2013. ^[4][6]

Who owns SAB? AB InBev’s 2025 subsidiary list recorded 100% ownership. ^[8]

Does Zenzele Kabili own SAB directly? No. It holds shares in AB InBev. ^[11][8]

Who leads SAB now? Richard Rivett-Carnac was chief executive and BU president on 7 November 2026. ^[2]