RUSSIA: BBH adds to Russian presence with new acquisition
The Hartwall/Carlsberg joint venture, Baltic Beverage Holdings (BBH) has announced plans to acquire a 70% stake in the Voronezhsky Brewery in Russia. No financial details were released. The brewery, located in the Voronezh region, produces around 730,000 hls per year.
BBH is looking to enhance its position in the Russian market. The company, which owns 13 breweries in the former Soviet Union, expects the acquisition to boost its share of the Russian beer market to 32%.
A refurbishment programme for the Voronezh plant, the first stage of which will cost around $17 million, will go ahead as soon as the acquisition receives the official go-ahead from Russia's anti-monopoly authorities.
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