The Danish brewing group, Carlsberg, has said it is considering making acquisitions in Spain and Portugal as it seeks to expand its European operations. The company is thought to be looking at acquisitions in the range of $660m to $1.32 billion.

Carlsberg director, Nils Smedegaard Andersen, said he believed the Portuguese and Spanish markets had growth potential and the company would make acquisitions in those markets in the short term.

In recent years, Carlsberg has concentrated its international expansion in eastern Europe, with ventures and acquisitions in markets such as Bulgaria, Poland, Romania and Croatia, as well as its joint venture, Baltic Beverage Holdings, in Russia.