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Carlsberg to take full control of Cambodia's Cambrew

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Carlsberg has lined up the acquisition of the remaining stake in its joint-venture in Cambodia.

Carlsberg will have full control over Cambrew, Cambodias beer market leader

Carlsberg will have full control over Cambrew, Cambodia's beer market leader

Coinciding with the release of third-quarter and year-to-date results, the group said today it has agreed to buy out Goh Nan Yang, the JV's former MD, giving it 100% control of Cambrew. While financial details were not announced, CEO Cees 't Hart said on a call today: "If you look at the 2018 annual report, you can see that we paid around US$200m for the 25% we acquired in August 2018.

"You can assume that we paid a bit more for the rest."

Having initially bought into Cambrew in 2005, the 25% acquired last year took Carlsberg's holding to 75%.

"The agreement is in line with our strategic priority of growing our business in Asia and in a beer market that offers appealing long-term growth opportunities," 't Hart said in today's statement.

Cambrew, which is headquartered in Sihanoukville in the south-west of the country, is Cambodia's largest brewer through the Angkor Premium Beer brand. The company is also the producer and bottler of Pepsi for the country.

Carlsberg and Heineken in Cambodia - Click here for a just-drinks comment


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