BELARUS: Carlsberg unit raises stake in Olivaria Brewery
Carlsberg extends reach 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.
One of the first signs of madness, I was always told, is talking to yourself. If that's the case, then Larry Nelson may have finally lost it. Before we cart him off, though, let's listen in on his and...
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