EUROPE: Molson Coors buys StarBev for US$3.54bn
Staropramen will become a Molson Coors brand, subject to the deal getting the green light from EU competition authorities
Molson Coors has agreed a deal to buy Czech brewer StarBev from owners CVC Capital Partners for US$3.54bn, it announced today (April 3).
It comes after speculation earlier this week that claimed that Japanese brewer Asahi was in the final round of talks to complete a deal with CVC. The Molson Coors deal is subject to approval by European competition authorities, but is expected to complete in the second quarter of 2012.
StarBev will be operated as a separate business within Molson Coors and will remain headquartered in Czech. The company, which was created in late-2009, when Anheuser-Busch InBev sold its brewing assets across Eastern Europe to CVC Capital for $2.2bn, operates nine breweries in Central and Eastern Europe.
Peter Swinburn, Molson Coors' president & CEO, said: “StarBev, as a market leader in the CEE region, provides Molson Coors with a great platform for growth and an excellent foundation from which to extend our key brands, such as Carling, into Central and Eastern Europe.
“Staropramen, StarBev’s international flagship brand, will also enhance our portfolio in some of our current and planned markets.”
Alain Beyens, CEO of StarBev, added: “We are delighted to become part of one of the world’s largest brewers. It has been great to work with CVC as we have developed and grown this business over the last few years. Their support has enabled StarBev to become a leading innovator of world-class brands.
He added: “I am convinced Molson Coors will take StarBev to the next level of development and growth.”
To read Molson Coors' official announcement, click here.
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