Diageo’s East African Breweries Ltd has acquired a 51% stake in Serengeti Breweries for US$60.4m, positioning the brewer to challenge SABMiller in Tanzania’s beer market.
Diageo announced today (26 October) that East African Breweries has completed the deal for Serengeti, following shareholder backing and regulatory clearance in Tanzania.
East African Breweries agreed to offload a 20% stake in the market leader, SABMiller-controlled Tanzania Breweries, in order to gain control of Serengeti. A Diageo spokesperson told just-drinks today that the Tanzania Breweries stake sale was “still pending”.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData