BY MIKE ESTERL

Alan Clark, SABMiller PLC's chief executive, is thirsty for deals.

Two years after the world's second-largest brewer by sales spent about $10 billion to buy Australia's Foster's Group Ltd., and amid a wave of billion-dollar deals that has transformed the global beer industry, Mr. Clark says more tie-ups are on tap.

Asia is a particular focus of deals for the U.K.-based brewer, which sells beer on every continent except Antarctica and whose brands include Snow in China, Peroni in Italy, Castle in South Africa and Miller in the U.S.

As beer consumption slows, acquisitions are a route to higher sales. ...