Heineken to buy Slovenian brewer Pivovarna Laško

Heineken NV, the world's third-largest brewer, yesterday struck a deal to buy Pivovarna Laško in a deal valuing the Slovenian brewery at €224 million ($237 million).

Heineken has signed a binding agreement with a consortium of Pivovarna Lasko shareholders, including Bank Asset Management Company (DUTB), to acquire a 51.11-per cent stake at €25.56, or €114.3 million.

DUTB is Pivovarna Laško's largest shareholder with 23.5 per cent stake.

As per Slovenian takeover rules, Heineken would later have to bid for the whole company.

Pivovarna Laško is Slovenia's leading brewer. The company operates two modern and well-invested breweries and owns and brews the renowned Laško and Union beers, with strong heritage across the Adria region.

Commenting on the proposed transaction, Jean-François van Boxmeer, chairman and CEO of Heineken, said, "This acquisition strengthens our position within the region and will bring two complementary strong local brands into our existing portfolio. We are very much looking forward to welcoming Pivovarna Laško as a successful member of our group."

Dušan Zorko, CEO of Pivovarna Laško said, "The acquisition by Heineken as a strategic investor allows Pivovarna Laško to continue building our historic local brands and to develop our position in regional export markets, as well as give an opportunity to better utilise our production capacities."

Heineken is one of the world's largest brewers with premium beer and cider brands. Led by the Heineken brand, the Amsterdam, Netherlands-based company has a portfolio of more than 250 international, regional, local and specialty beers and ciders.