RUSSIA: Baltika acquires Baku-Castel brewery
Baltika Breweries today (15 May) signed a contract with Brasseries Internationales Holdings (Eastern), for the purchase of Baku-Castel brewery.
The deal, which will come into force upon approval from the anti-monopoly authorities of Azerbaijan, was made in a bid to develop the company's business in the country.
"We were led to the decision to make this purchase by an optimistic estimate of the prospects for developing the market in Azerbaijan, by the favourable investment climate and the strong position of the Baku brewery and its brands on the market," said president of Baltika Anton Artemiev.
Upon completion of the deal, Baltika will continue the development of the Baku-Castel brands including Castel and Hirdalan, and will develop a programme for modernising the existing equipment.
The company has plans to start producing its own brands there in time for the 2009 season.
"Baltika has set up the production of licensed brands at its own breweries and has arranged for licensed production of its brands in Ukraine and in Great Britain. Now we will add to this experience practice in managing production abroad," said Artemiev.
Baltika began its move into foreign markets in 2000 and over the past eight years has set up export shipments to 47 countries around the world, including North and South America, Africa, Scandinavia, the Asia-Pacific region, the Near East, and the countries of Europe the CIS.
The annual rate of growth of the beer market in Azerbaijan in the coming three years is 12-14% the company forecast.
SABMiller may have seen beer volumes rise by 3% in the first six months of the year but the impact of rising commodity prices, the global economic downturn and the credit crunch have given the brewer ...
Per capita consumption of beer in Eastern Europe rose by 22 litres between 2002 and 2007, according to a report from beverage industry analysts Canadean....
Baltika Breweries, the leading Russian brewer, has reported sales and profit rises for the first nine months of 2008, lifted by a growing export business....
Slower western beer markets have forced Carlsberg to cut its earnings forecast for the full-year, despite announcing sales and profit rises for the year-to-date....
- Focus - Edrington's FY Performance by Brand
- Where Beer is Brewed Can Leave a Bad Taste
- Pernod relies on Indian whiskey to crack Africa
- Analysis - Storm clouds lift over Diageo Towers
- NPD: The Clear Soft Drink Trend is Back
- Comment - Diageo CFO to North America? Do the Math
- Diageo CFO Mahlan to head up N America
- Former Bacardi exec takes De Kuyper CEO role
- Diageo lining up Gleneagles sale - report
- Diageo sells "non-core" Gleneagles
- Global liqueurs insights - market forecasts, product innovation and consumer trends research
- The IWSR Company Profile 2014 – Remy Cointreau
- Diageo plc (DGE) - Financial and Strategic SWOT Analysis Review
- Edrington Group in Spirits (World)
- Global Tequila insights - market forecasts, product innovation and consumer trends research