Heineken has acquired the holding company of Belarus-based Syabar Brewing Company.

The Dutch brewer said late last week that it has acquired the Cyprus-based company, which owned Syabar, for an undisclosed sum. The parent firm has been bought from a consortium led by Detroit Investments Limited (Cyprus) and the International Finance Corporation, an affiliate of the World Bank.

"This transaction is in line with our strategy to obtain leading market positions and brands," said Nico Nusmeier, Heineken's regional president for Central and Eastern Europe. "Belarus is a fast growing market and this deal will give us an excellent platform from which to grow both the Heineken brand as well as our imported Russian brands."

Based in Bobryusk, Syabar has been operating in the country since late 2005, following the reconstruction of a state-owned brewery. The company owns the number two beer brand Bobrov and the recently introduced premium brand Syabar. Current production capacity is 1.1m hectolitres with the possibility to extend to 2.1m hectolitres.

Last year, reports out of Belarus suggested that Heineken, SABMiller and Baltic Beverages Holding were in the running to snap up market leading brewer Krinitsa Brewing Holding.