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BULGARIA: Carlsberg acquires 59% stake in Shumensko

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Danish brewing giant, Carlsberg Breweries A/S, has acquired a 59.4% stake in the Bulgarian brewery, Shumensko, from Ferroal Ltd for an undisclosed sum.

According to Carlsberg, Shumensko, which is located in the town of Shumen near the Black Sea coast, has an 8% share of the 4.5m hl Bulgarian beer market and last year recorded sales of $7.75m. It employs 388 people and in recent years has registered significant growth.

Carlsberg said the Shumensko brand was one of the few traditional quality brands on the market and would feature prominently in its future plans for the company. Carlsberg also said it planned to introduce its Carlsberg and Tuborg brands on the Bulgarian market.

The acquisition marks a further step in Carlsberg's plans to strengthen its presence in south-eastern Europe. In May, it increased its stake in the Croatian brewery, Panonska, to 80%. Ferroal will continue to hold a minority stake in Shumensko. The deal remains subject to local regulatory approval.


Companies: Carlsberg

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