Quick Take: SABMiller's Chill Brew

SABMiller (OTC BB: SBMRY.PK) has a new lime and salt-flavored light beer on the way, and the brewer is hoping we'll all like it as much as folks in Texas and Florida have. Miller has named the product Chill, and it has sold well enough on a trial basis in a number of southern states that the company is ready to roll it out nationwide.

You can't blame Miller for trying to find a product that catches fire with consumers and gives it something distinctly different from the offerings of Inside Value selection Anheuser-Busch (NYSE: BUD) and competitor Molson Coors Brewing (NYSE: TAP). Even if this gamble doesn't work out for Miller, it's certainly better than competing on price. But it might generate enough curiosity to get regular buyers of premium beers -- such as those offered by Boston Beer (NYSE: SAM) -- to give it a try.

Perhaps more important for Miller is that Chill is also just one of many moves the company is making to improve its North American sales. Miller is also trying to reinvigorate Miller Lite and increase the sales of its Peroni and Leinenkugel's brands at 20% to 30% rates. The competition in North America is tough and only appears to be getting tougher, but North America is a very profitable market and still has a growing population base. That's worth sticking around and fighting over if you pick your spots, which SABMiller appears to be doing.

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Nathan Parmelee has no financial interest in any of the companies mentioned. The Motley Fool has an ironclad disclosure policy.