Bryggerigruppen, the Danish brewer, has gained 100% of Vitamalt (West Africa) Ltd. The group announced today that it had entered into an agreement to acquire the remaining 50% of the shares and votes in Vitamalt.

Through the acquisition of the remaining shares, Bryggerigruppen ensures the full control of the trademark "Vitamalt" worldwide. The acquisition, which has effect from 1 January 2004, is expected to be completed by the end of March 2004.

Vitamalt has the title to the trade mark "Vitamalt" in Nigeria and has for several years granted license to a Nigerian brewery for the production and sales of Vitamalt in Nigeria, which is one of the world's largest markets for malt drinks. Furthermore, the company also has the right to sell Vitamalt products in Benin, Togo, Liberia, Mali, Ghana, Burkina Faso and Niger.

Bryggerigruppen said it was acquiring the shares in Vitamalt against payment totalling about DKK16m - US$350,000 in cash and around 36,500 shares in the company.

It is anticipated that the acquisition will fulfil the group's objectives for profit and return on invested capital in 2004, where Vitamalt is expected to have a license revenue amounting to around US$0.5m this year.