Carlsbergs Mythos Brewery merged with Olympic to create Greeces second-biggest brewer

Carlsberg's Mythos Brewery merged with Olympic to create Greece's second-biggest brewer

Carlsberg has strengthened its position in Southern Europe after taking full control of Greece's Olympic Brewery.

The Danish brewer today said it has acquired the remaining 49% of Olympic Brewery following its 51% stake purchase in 2014. That deal came after Olympic Brewery was formed through a merger of Carlsberg's Mythos Brewery and the independent Olympic to create Greece's second-biggest brewer behind Heineken's Athenian.

Commenting on the deal today, Carlsberg CEO Cees 't Hart said: "Olympic Brewery is a historic Greek company and a very strong player in the Greek market. It is thus a positive and logical next step that we announce today, strengthening our presence in Southern Europe."

Financial details have not been disclosed, a Carlsberg spokesperson told just-drinks.

Olympic Brewery operates two breweries, in Thessaloniki and Euboea. Its regional brands include Mythos, Mythos Radler, FIX Hellas, FIX Alcohol Free, FIX Dark, Kaiser and Henninger. The unit also brews Carlsberg lager, Tuborg and Somersby cider.

Following the Mythos and Olympic merger, a rival Greek brewer, Macedonian Thrace, voiced concerns that Carlsberg and Heineken would "dominate" the local beer market and put pressure on new entrants. Thrace claimed that about 85% of Greece's beer market would be controlled by two "foreign multi-nationals".

just-drinks' Mergers & Acquisitions database - January

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