Heineken is due to take over Belarus’ Syabar Brewing Company, the Dutch beer giant announced on Friday. No financial details have been released.
Syabar’s Bobrov brand is the second-highest selling beer in Belarus, whose beer market had doubled annually in recent years, according to Heineken. „The takeover fits in with Heineken’s strategy to conquer leading brands and market positions,” Heineken’s Eastern Europe CEO Nico Nusmeijer said. Belarusians drink an average of 45 liters of beer per household per year. Syabar has 280 employees and sold some 600,000 hectoliters of beer in 2007, twice has much as in 2006. The company has recently introduced a new beer brand aimed at the luxury segment of the market.
The current owners of Syabar Brewing Company are the Cyprus-based Detroit Investments Limited and International Finance Company, a division of the World Bank, which provides loans to the private sector in development countries. (m&c.com)