SABMiller's Polish subsidiary announces acquisition
3 August 2007
SABMiller plc's Polish subsidiary, Kompania Piwowarska S.A. ("KP"), announces that it has agreed to acquire 99.96% of Browar Belgia Sp. z o.o ("Browar Belgia") from the Belgian brewer, Palm Breweries NV. The value of the gross assets to be acquired is approximately €65 million. The transaction is subject to the approval of the Polish competition authorities.
Browar Belgia operates one brewery situated in Kielce, South East Poland, and has an annual production capacity in excess of 1 million hectoliters. Its principal brands are Wojak, Gingers and Frater.
The investment will provide additional capacity necessary to keep pace with the growing demand for KP's products and the new Browar Belgia brewery will complement KP's existing manufacturing footprint.
Commenting on the acquisition, Mark Bowman, the Managing Director of Kompania Piwowarska SA said:
"We are optimistic about our future growth prospects and Browar Belgia provides us with expansion capacity without the need to develop a greenfield site."
About SABMiller plc:
SABMiller plc is one of the world’s largest brewers with brewing interests or distribution agreements in over 60 countries across six continents. The group’s brands include premium international beers such as Miller Genuine Draft, Peroni Nastro Azzurro and Pilsner Urquell, as well as an exceptional range of market leading local brands. Outside the USA, SABMiller plc is also one of the largest bottlers of Coca-Cola products in the world.
In the year ended 31 March 2007, the group reported US$3,154 million in adjusted pre-tax profit and revenue of $18,620 million. SABMiller plc is listed on the London and Johannesburg stock exchanges.
This announcement is available on the company website: www.sabmiller.com
Kompania Piwowarska - leader of the Polish beer industry
Kompania Piwowarska is the biggest and the most profitable brewer in Poland. Hundreds of years of experience in beer brewing, state-of-the-art technology and rigorous adherence to the World Class Manufacturing rules guarantee the products' highest quality. The company's product portfolio includes TYSKIE - Poles' favourite beer, ŻUBR - the second largest Polish beer brand, LECH, Dębowe Mocne, Pilsner Urquell, Redd's, Dog in the Fog, Peroni Nastro Azzurro and Miller Genuine Draft. Kompania Piwowarska was established in 1999 as a result of a merger of Tyskie Górny Śląsk SA and Lech Browary Wielkopolski SA. In 2003 Kompania Piwowarska acquired the Dojlidy Brewery in Białystok.
In the year ended 31 March 2007, Kompania Piwowarska reported revenue of PLN 4.4 billion and net profit of PLN 693 million. Sales volume amounted to 13 million hectolitres.
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This announcement does not constitute an offer to sell or issue or the solicitation of an offer to buy or acquire securities of SABMiller plc (the "Company") or any of its affiliates in any jurisdiction or an inducement to enter into investment activity.
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