DENMARK: Royal Unibrew sells Polish brewery
Danish brewer Royal Unibrew has sold its Koszalin brewery in Poland to Polish brewer Van Pur, as part of a restructuring plan.
Royal Unibrew, which last month announced that it planned to close the Koszalin brewery, said today (27 March) that it hoped the sale would be complete by the end of April. Employees will be transferred to Van Pur as part of the deal.
Unibrew president and CEO Henrik Brandt declined to give financial details of the sale when contacted by just-drinks today.
Unibrew last month reported a DKK455m (US$81m) impairment charge on its Polish operations for 2008. It said that its Polish division produced a "highly unsatisfactory and material operating loss" during the year, due to falling beer sales in the country and the company's poor product mix.
As part of a restructuring plan for Poland, Unibrew said that it would close Koszalin and transfer brewing capacity to its largest brewery in the country, in Lomza.
Unibrew said today that the Koszalin disposal, which is subject to approval by Poland's competition regulator, will boost group cash flow in 2009.
Unibrew's net revenue reached DKK4.17bn last year, reflecting an 8% increase on 2007.
Royal Unibrew, the Danish brewer, is to sell its shares in its Dominica, St. Vincent and Antigua breweries to Cerveceria Nacional Dominicana (CND) in a bid to reduce its debt....
- Have spirits companies forgotten the mainstream?
- Ten questions for Diageo - Analysis
- Does alcohol accelerate the onset of dementia?
- Pernod's mood darkens over India - Analysis
- Why Scotch must drop the 'malts good, blends bad'
- Moet Hennessy unaffected by LVMH Dior buy
- Diageo to cut 105 jobs in Scotland, 50 in Italy
- Distell acquires majority stake in Cruz Vodka
- Portman Group heads to Tesco for new chief exec
- William Grant names Europe & NA Travel Retail head
- Global Scotch insights - market forecasts, product innovation and consumer trends
- Global Champagne and sparkling wine insights - market forecasts, product innovation and consumer trends
- Battle of the Generations - The fight for iGen, Millennial, Gen X and Baby Boomer consumers
- Myanmar - ISA Country Report
- Craft Beer: Coming of Age or Past Its Prime?