South African-UK brewer SABMiller Plc through its Romanian subsidiary, Ursus Breweries, has acquired a 71-per cent stake in Romanian brewer Bere Azuga.
Bere Azuga, which produces the Azuga and Valea Prahovei brands, operates from a single brewery located some 30 km from the city of Brasov, in the central Transylvanian region of Romania and has an estimated market share of 0.6 per cent.
"Ursus Breweries is pleased to add one of the most recognised Romanian brands to its portfolio. The acquisition of Bere Azuga, which has a strong Romanian heritage, illustrates our determination to offer our customers a choice of high quality brands that span a range of different drinking occasions," Stephan Maria Weber, managing director of Ursus Breweries, said.
Bere Azuga is listed on the Bucharest stock exchange and its market capitalisation on the last day of trading prior to this announcement was €9.3 million, based on a share price of €1.73. The value of the gross assets acquired is €24.8 million.
Ursus Breweries will have to seek the approval of the competition authority and in due course launch a public offer for the shares it does not own, according to local law and regulations.
SABMiller is one of the world's largest brewers with brewing interests and distribution agreements across six continents. The group's product portfolio includes premium international beer brands such as Grolsch, Miller Genuine Draft, Peroni Nastro Azzurro and Pilsner Urquell, as well as market-leading local brands such as Aguila, Castle, Miller Lite, Snow and Tyskie.
SABMiller is also one of the largest bottlers of Coca-Cola products in the world.
In the year ended 31 March 2008, the group reported $3.64 billion in adjusted pre-tax profit and revenue of $21.41 billion. SABMiller plc is listed on the London and Johannesburg stock exchanges.