SAB acquires Bere Timisoreana in Romania
7 August 2001
South African Breweries plc (SAB), one of the world's leading brewers with operations in 22 countries, today announced that it has acquired, through its subsidiary company, South African Breweries International (Europe) B.V., a controlling 83.7% interest in Bere Timisoreana S.A. of Romania from a vendor consortium. The acquisition is subject to certain conditions precedent of a technical nature and Romanian Competition Council approval.
Graham Mackay, Chief Executive of SAB plc, said: "The acquisition of Bere Timisoreana complements SAB's existing operations in Romania and strengthens our overall position in central Europe.
"Bere Timisoreana provides SAB with a strong brand, and excellent distribution in western Romania, which we can develop to drive further expansion across the country. The acquisition fits well with our strategy of building regional dominance in emerging markets."
Bere Timisoreana has one brewery, located in the city of Timisoara, and has 419 permanent employees. The brewery currently has an annual capacity of 700,000 hectolitres and annual sales of 580,000 hectolitres. Its main brand is Timisoreana. The value of the net assets acquired by SAB is approximately US$6.9 million.
SAB has been operating in Romania since 1996 and currently runs three breweries with a total capacity of 2.0 million hectolitres, employing around 1,130 people. SAB's existing operations are located in Cluj-Napoca, Pitesti and Buzau.
Notes to editors:
South African Breweries is the world's leading brewer in emerging markets, with major brewing and distribution operations in Central and Eastern Europe, Africa and Asia. It is the world's fifth largest brewer by overall volume with 81 breweries in 22 countries and over 31,000 employees. In the year to 31st March 2001, SAB generated US$646 million pre-tax profit from turnover of US$4.184 billion. The company is listed on both the London and the Johannesburg stock exchanges.
For further information:
Ciaran Baker, Head of Corporate Communications, SAB plc
Tel: +44 (0) 207 659 0120
Mob: +44 (0) 797 995 4493