Diageo Plc, Buys Ethiopian Brewery Meta Abo for $225 Mln

by yeEthiopiaforums

Diageo Plc, a London based global alcoholic beverages company, bought Meta Abo, a state-owned brewery for 225 million dollars.

Late in August the Ethiopian government had floated an auction for Meta Abo Brewery weeks after Bedele and Harar breweries were sold to Heineken. British, Dutch and South African breweries were putting bids for Meta Abo, an Ethiopian brewery which brews the Meta Abo beer.

According to sources, Heineken, the Dutch brewery, offered 188 million dollars, while SAB Miller and South West Development (SWD) together bid 190 million dollars followed by Dashen Brewery which offered 173 million dollars.

In mid August Heineken, the leading Dutch brewer, acquired Bedele and Harar breweries from the government of Ethiopia for 163 million dollars after winning a public auction.

Heineken’s bid to buy Bedele and Harar for 85.24 million dollars and 78.18 million dollars respectively was approved in April, according to the Ethiopian Privatisation and Public Enterprise Supervision Authority.

Heineken won the bid for Harar Brewery without competition while it had to contend against three competitive bids for Bedele.

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Diageo Products

 

 

Heineken beat the 70 million dollar bid from South-West Development had put a US$70 million bid, BGI (US$68 million) and Carlsberg (US$64 million).

Heineken said it would continue to brew local brands such as Bedele, Harar and Hakim Stout, whose combined market share is 18 percent.

Diageo is the world’s largest producer of spirits and a major producer of beer and wine. Its brands include Smirnoff (vodka), Johnnie Walker (scotch whisky), José Cuervo (tequila), Baileys (liqueur) and Guinness (stout).

Source: The Reporter

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