Carlsberg extends reach in Belarus

Carlsberg extends reach in Belarus

Carlsberg's Baltic Beverages Holding unit has increased its stake in Olivaria Brewery, the third largest brewer in Belarus.

Baltic Beverages Holding (BBH) has raised its shareholding in Olivaria from 30% to 47%, a Carlsberg spokesperson confirmed to just-drinks today (15 July).

The Carlsberg subsidiary is believed to have paid US$6.42m for the extra shares.

Minsk-based Olivaria, which was founded 1864 and employs 475 people, has around an 18% volume share of the Belarus beer market, according to state figures.

Carlsberg said back in January 2009 that it intended to increase its presence in the country. BBH acquired a 30% stake in Olivaria in 2006.

Annual beer consumption in Belarus, which has a population of nearly 10m, is around 49 litres per capita.