ETHIOPIA: Castel Group BGI ties-up with Raya Brewery - report
Castel Group's African beer business, Brasseries & Glacieres Internationales, has reportedly formed a joint-venture with Raya Brewery in Ethiopia.
Brasseries & Glacieres Internationales (BGI) has agreed to own 25% of Raya Brewery's ETB650m project to build a greenfield brewery in Ethiopia, according to local newspaper Addis Fortune. Raya has already said that it is seeking to build a 300,000 hectolitre brewery in order to capitalise on growing beer consumption in the country.
It remains unclear whether BGI has bought a stake in Raya Brewery's business, in addition to the brewery JV. Raya, which was established in April 2010, has spent the last year attempting to secure outside investment. Germany-based Brewtech has a 26% share in the business.
BGI is already Ethiopia's largest brewer, with around a 50% volume share, but it faces greater competition from Heineken. Earlier this year, the Netherlands-based brewer beat BGI to the acquisition of two state-owned breweries, Bedele and Harar.
Last year, a report published by investment group Access Capital forecast that beer consumption in Ethiopia would rise by 15% per year over the next five years.
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