Moving closer
Expansion is still the rule of the game for Pierre Castel. But in a move that represents a departure from his previous strategy, he now accepts partners. Despite the political and economic risks associated with the North African states, especially Algeria, Castel has managed to extend his joint venture with SABMiller to include Algeria and Morocco. In Algeria, a country of 31 million people, SABMiller acquired a 25 percent direct interest in two Castel carbonated soft drink plants and one brewery, together with a 15.8 percent stake in a second brewery, in which Castel is a majority shareholder. In neighbouring Morocco (30 m inhabitants) SABMiller bought a 25 percent interest in a holding company which has controlling interests in three breweries and a malting plant.3 times sales.....
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