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Europe/Russia
SABMiller has agreed to buy a majority stake in Slovakian brewer Topvar. The value of net assets to be acquired was around USD 15.2 million. The company would initially buy a stake in Topvar of at least 33 percent, with a further sale six months later to allow SABMiller to increase its stake to at least 67 percent. The remaining shares held by the controlling shareholders are subject to put and call options exerciseable within 18 months of SABMiller bringing its stake up to 67 percent. Topvar’s owners included management (51 %), employees (34 %) and the Topolcany municipality (15 %). Analysts said the deal valued the brewer at around USD 49 million including debt. SABMiller already owns the third-ranking Slovak brewery Saris. Total industry beer sales fell 13 percent. ...
Europe/Russia
A recent study into the financial impact of a smoking ban in Scotland has found out that the country would save GBP 4.2 billion (EUR 6.1 billion) if a total ban is enforced. According to Martin Information, London, the study also reveals which places will be exempt from the smoking ban. These include old people’s homes, people’s houses and cars, hospices, and psychiatric hospitals. The research compared expected cost savings between the proposed total ban on smoking in enclosed public spaces and a voluntary ban on smoking in pubs, bars and hotels. The research team found that the total ban saved more money. ..
Europe/Russia
Those who arrive late, have to take what’s left. See Germany, see Russia. In May, Heineken bought the Patra brewery in Yekaterinburg, Urals region, at an undisclosed price. Although this deal is to raise Heineken’s market share in Russia to 8.3 percent and volumes to over 7 million hl of beverages, Heineken continues to lag behind its more aggressive Russian competitors such as Baltika, SABMiller and Efes. The Patra brewery is based in the number three city in Russia, Yekaterinburg, which accounts for 17 percent of the total beer market. ..
Europe/Russia
In 2004 the sales of Baltika Brewery reached more than 20 million hl of beer. The company strengthened its leading position in the market by selling some 23 percent more beer year on year, which is more than twice the growth figure of the entire Russian beer market. Baltika, which is part of Baltic Beverages Holding (BBH), lost some market share in the first half of 2004 but after increased spending on advertising and marketing it managed to raise its market share to 34.2 percent, up 1.2 points. ..
Europe/Russia
‘Predictability: Does the Flap of a Butterfly’s Wings in Brazil set off a Tornado in Texas?’ was the title of a presentation by meteorologist Edward Lorenz to the American Association for the Advancement of Science. This became the thematic statement for central tenets of chaos theory: systems rely upon an underlying order, and that very simple events can lead to very complex results. The Hungarian beer market is an apt example of this, writes Lyle Frink from Budapest. Because, who would have guessed that German reunification would cause Hungarian breweries many hardships? Just as the fluttering of a butterfly’s wings could theoretically set off a tornado, German reunification set off a chain of still evolving developments in the Hungarian beer market. ...
Europe/Russia
The trouble with the game ‘Musical Chairs’ is that you will have to find an empty seat when the music stops. Apparently, the music has stopped for Heineken’s CEO Anthony Ruys but has started to play again for Andreas Gembler, the former Philip Morris executive, who is to become President and CEO of Bacardi. Gembler, 62, who retired in 1999 as President and CEO of Philip Morris International, spent 30 years with the world’s largest cigarette company. He will replace Chairman and acting CEO Ruben Rodriguez, 68, who surprised many when he announced that he will step down from the Bacardi management.
For the past five years, Rodriguez has held one or both of the top jobs at the spirits company. ...
Europe/Russia
While Italian brewers are still reeling from the latest raise in excise on beer, SABMiller bought a further 39.8 percent of Italian brewer Birra Peroni for EUR 162.5 million. The stake was owned by the founding Peroni family. The agreement follows SABMiller’s acquisition of a 60 percent stake in Birra Peroni in June 2003 for EUR 246 million.
Europe/Russia
The average yield for 2004 was 1,08 t/ha which corresponds with the years 2001 and 2002 and is 16% higher than last year. The production in the main growing region of Saaz reached 4435,5 t of hops, the highest yields were recorded in the Moravian Tirschitz region with 1,51 t/ha. Saaz hops, the main Czech variety, accounted for 87,4% of the Czech production with average yield of 1,02t/ha. The quality was very good and the alpha content also better than in two previous years. Very good yields and quality were also achieved with the new Czech varieties Premiant, Sladek and Agnus. The production of these varieties is slowly increasing year by year thanks to demand in the Czech breweries but also in many breweries abroad. .
Europe/Russia
SABMiller has reported a 4 percent increase in beer sales for the 11 months to the end of February this year. Its trading statement shows a further slowdown in the U.S. and an acceleration of the decline in Central America. In Europe results were mixed. The markets were concerned about a potential bid for Bavaria and Topvar in Slovakia as well as Altria selling its stake in SABMiller in June this year.
In the U.S. beer market, which contributes 25 percent to group EBIT, growth in Miller Lite slowed because of strong comparables to last year.
European lager volumes grew almost 5 percent, with strong results from Poland, Russia and Romania, offset in part by weaknesses in Italy, Hungary and Slovakia. This implies total volume decline of 5 percent..
Europe/Russia
Slovenia may pride itself for sitting on the sunny side of the Alps. However, for InBev this market has always been overshadowed by dark clouds. That’s why the ‘world’s premier brewer’ decided that it was better to beat a hasty retreat than to weather the storm that has been brewing in Slovenia ever since Interbrew entered the southern European market in 2001. In February, InBev announced the sale of its holding (41.32%) in Pivovarna Union (‘Union’) to Pivovarna Lasko (‘Lasko’) for a cash consideration of EUR 70.7 million.
InBev’s failure to secure control of the country’s number two brewer, Union, has since become a text book case of a botched Europeanisation process. The culprits are easy to make out: the Slovenian government and competition authorities..
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