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News from the Caribbean as of
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Danish brewer buys control of three Caribbean firms
Thursday, December 14, 2006
by Peter Levring
COPENHAGEN, Denmark (Reuters): Denmark's second-biggest brewer, Royal Unibrew, says it has bought controlling stakes in two brewers and a bottle recycling plant in the Caribbean to strengthen its position in the region.
Unibrew bought 58.4 percent of Dominica Brewery & Beverages Ltd., 91.7 percent of Antigua Brewery Ltd. and 75 percent of Antigua PET Plant Ltd. for a total enterprise value of $26.5 million, it said in a statement on Wednesday.
"The Caribbean is one of our three strategic focus areas, and the purchase of Dominica Brewery & Beverages and Antigua Brewery, which are both market leaders, and Antigua PET Plant will give us capacity to export to several of the English and French-speaking markets in the Caribbean," Unibrew Chief Executive Poul Moller told Reuters.
Aside from Britain and Africa, the Caribbean is the third market in which Unibrew sells its profitable malt beer, Moller said.
Both Dominica Brewery & Beverages and Antigua Brewery currently produce Unibrew's Vitamalt brand on licence.
Unibrew, a distant second after top Danish brewer Carlsberg, said the access to new local brands would provide an opportunity for increased profitability through synergies in purchasing, production, sales and marketing.
The share purchases are subject to a number of conditions, including approval by Antigua's government.
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