American corporation purchases the owner of Kamenitza brewery for €2.65 bn

US-Canadian Molson Coors Brewing Company will acquire the East European StarBev which owns more than 20 other brands, the Bulgarian Kamenitz among them", said the company from America.
The deal is estimated at €2.65 bn. This move will enable the overseas brewer to expand its markets and increase its sales on new territories besides the U.S., Canada and the UK. "This is mostly a matter of growth," commented Peter Swinburn, President and CEO of Molson Coors. According to the new owners of StarBev, with this deal they will acquire the major brands on half of the CEE markets. Henceforth, the approval of the transaction by the antitrust authorities in the European Union should be awaited. The deal can probably be finalised in the second quarter of this year. The headquarters will remain in Prague, but will operate as a subsidiary of Molson Coors.

Growth and profitability are just the things the U.S. company is looking for. StarBev has nine breweries in CEE with about 4,100 employees. The company's revenues for 2011 exceeded €700 mln and its profit before taxes stood at €241 mln.

Kamenitza JSC commented for Klassa that they did not expect any changes in the company's management in Bulgaria and no lay-offs are planned. They boasted that 2011 was an extremely successful year for them and they made new investments exceeding BGN 18 mln introduced innovations are four new products. According to data of AC Nielsen, the market share of the brewery for December was 33%, ranking it the market leader in this respect. The growth of this indicator is 4% on an annual basis. The company expects 2012 to be even more successful and to continue with the investments and innovations.

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