Above: Heineken to brew Bedele, Harar & Hakim Stout, which
have a combined market share of 18% in Ethiopia. (Via WSJ)
The Wall Street Journal
By Anna Marij van der Meulen
AMSTERDAM—Seeing high-growth potential in Ethiopia, Heineken NV plans to buy two state-owned breweries for $163 million.
The Dutch brewer said Thursday it has been named preferred bidder for the Bedele and Harar breweries, which it plans to acquire for $85 million and $78 million, respectively.
Heineken, which expects to finalize the deal in the coming weeks, said it will continue to brew local brands such as Bedele, Harar and Hakim Stout, which have a combined market share of 18% in Ethiopia. The breweries have a total capacity of about 15 million gallons a year.
The deal will make Heineken the No. 2 brewer in Ethiopia, after BGI Castel. The unit of closely held French drinks company Groupe Castel has a 50% market share.