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Heineken Acquiring Two State-Onwed Ethiopian Breweries For $
Dutch beer company Heineken NV said on Thursday it is entering the Ethiopian market with the acquisition of two state-owned breweries.The company said it had been named the preferred bidder for Bedele brewery, which it is acquiring for $85 million, and Harar, for which it will pay $78 million.Commenting on today’s announcement, Tom de Man, President of Africa and Middle East for Heineken, said:"We are delighted that our offer to acquire these two breweries has been selected as the winner by the Ethiopian Privatization and Public Enterprise Supervising Agency. This transaction represents another important step in Heineken's strategy of increasing its exposure to emerging markets and we look forward to working with the Ethiopian government to grow the Ethiopian beer market and economy. Ethiopia is one of Africa's most promising beer markets and our expansion into this market underlines our commitment to Africa and strengthens our platform for continued growth in the region."The two breweries have a total capacity of 600,000 hectoliters per year, and will make Heineken the No. 2 brewer in the country after BGI Castel, a unit of French company Groupe Castel.
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Date Found: May 05, 2011
Date Produced: May 05, 2011
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