BBAG to become leading brewer
Second time lucky. BBAG may have failed in its attempt to acquire Pilsener Urquell, but this has not deterred the Austrian brewer from continuing its expansion into Central and Eastern Europe. This summer it bought Brewery Holdings, which brews the popular Gambrinus brand, from two investment groups: Jupiter Asset Management, a subsidiary of Germany’s Commerzbank, and Advent International, a US private equity firm. Although the price was not disclosed, analysts believe the deal to be worth more than US$100 million. Only recently, Brewery Holdings turned down an offer from SAB believed to be lower than BBAG’s.
Brewery Holding’s turnover this year is expected to be US$85 million..
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