The Danish brewer Carlsberg, which yesterday reported a 96% fall in first quarter profits, is unlikely to grow through further joint ventures or acquisitions in the present environment.
According to an interview with chief executive Officer Nils S. Andersen in today’s business daily Borsen, Carlsberg isn’t interested in further joint ventures and the prices of potential takeover targets being demanded at present rules out acquisitions for the moment.
“We have a growth strategy, but we aren’t going to expand and destroy value,” Andersen said. Those ventures over which the company has 100% control are outperforming joint ventures, so Carlsberg will steer clear of new joint ventures, he said.
