Stella Artois owner Interbrew has said it might close some of its breweries as it merges with Brazilian firm Cia de Bebidas das Americas (AmBev).
John Brock, the chief executive of Belgium-based Interbrew, said it would not need all of its 75 worldwide sites.
Interbrew, whose merger with AmBev will create the world's second largest brewer, is chasing the global number one - US giant Anheuser-Busch.
In the UK, Stella Artois is brewed in Newport, Wales.
US role model
"We don't need 75 breweries," said Mr Brock.
TOP BREWERS BY TURNOVER
"We have got to get a more integrated business that is far more cost-effective than it is today."
Mr Brock said Interbrew had yet to decide how many, and exactly which, breweries it would close.
"All options are open," said Mr Brock, who wants Interbrew to become as profitable as Anheuser-Busch - the brewer of Budweiser - in three or four years' time.
"We have a good idea of where we are, and we want to be as good as Anheuser-Busch," he said.
Brazilian thirst
The merger between Interbrew and AmBev, first announced in March, will give the company a global market share of 14%.
INTERBREW BRANDS
Brazil also offers Interbrew a market with an increasing thirst for beer at a time when European drinkers are drying up.
However, some analysts have questioned the merger, accusing Interbrew of going back on a pledge to consolidate previous acquisitions.
Mr Brock disagrees, adding that the merger will result in cost savings of 280m euros (£186m; $340m) a year from 2006.
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