E viva España ... and the Spanish beer drinkers
n February, Interbrew signed an agreement with Mahou San Miguel to buy its 12.6 per cent stake in Damm. Damm is the third largest brewer in Spain with a market share of 16.6 per cent. It is the market leader in Catalonia, to the north-east of Spain, and brews the brands Estrella Damm and Voll Damm. In 2000 Damm produced 4.4 million hl and grew 3.9 per cent - more than the market’s average which was 2.2 per cent according to Interbrew. Interbrew would not comment on the price it paid for the stake. However a corporate statement said that the price equalled a 6.6 EBITDA multiple. Some bargain, indeed. Unlike its neighbour Italy, Spanish consumers have taken a great liking to beer. In 2000, per capita consumption was 72 litres. And they enjoy their wine too - at 51 litres per person..
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