Diageo unveils US$119m upgrade at Ethiopia's Meta Abo brewery
Diageo bought the brewery in 2012
Diageo has officially opened a new US$119m bottling line at its Meta Abo brewery in Ethiopia.
Company CEO Ivan Menezes cut the ribbon in a commissioning ceremony in Sebeta, Diageo said yesterday. The upgrade completes an overall $344m investment in the brewery that has tripled annual capacity since its acquisition three years ago, to 1.7m hectolitres.
“Ethiopia is a country of enormous opportunity,” Menezes said. “We will continue to invest in the long-term growth of our brands, the Meta business, our people and the communities in which we operate.”
Diageo acquired Meta Abo from the Ethiopian Government for $225m in early-2012. The transaction saw the company become the second largest brewer in the country, behind Castel's beer division, Brasseries & Glacieres Internationales.
Diageo has forecast an 11% rise in beer sales in Ethiopia between fiscal 2013 and fiscal 2024.
Diageo is not the only global brewery investing in the African country: In January, Heineken announced that its new EUR110m (US$129m) brewery in Ethiopia was up to full capacity.
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