SABMiller has acquired a 71% stake in Romanian brewer Bere Azuga, as it looks to expand in the country's fast-growing beer market.

SABMiller said yesterday (28 January) that it has acquired the stake via its Romanian subsidiary, Ursus Breweries.

SAB did not disclose a fee for the deal, but said that Bere Azuga's market value was EUR9.3m (US$12.2m) prior to the acquisition announcement. The value of total assets acquired is EUR24.8m.

Romania is among one of the fastest growing beer markets in Eastern Europe in volume terms.

Stephan Maria Weber, managing director of Ursus Breweries, said the move adds "one of the most recognised Romanian brands to its portfolio."

Bere Azuga, which produces the Azuga and Valea Prahovei brands, has an estimated market share of 0.6%. It operates from a single brewery located around 30 kilometres from the city of Brasov, in the central Transylvanian region.

SABMiller said this month that beer volumes rose by 11% in Romania in the group's fiscal third quarter, a slower pace than in the previous year, but ahead of a 1% fall in the brewer's global volumes for the quarter.