Friday, December 28, 2007

Heineken buys brewer in Belarus

Dutch brewer Heineken NV has announced the acquisition of one of Belarus' leading brewers Syabar Brewing Company.

Heineken did not disclose the acquisition price, saying it would buy Syabar's Cypriot parent company using existing cash resources.

The Belarus beer market is showing double-digit growth, with annual consumption now estimated at almost 4.5m hectolitres, Heineken said.

The company said the purchase "will be earnings enhancing in 2008".

It expects Syabar sales to reach 600,000 hectolitres in 2007.

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