March 2008
Heineken N.V. announced that it is to acquire the Romanian brewer Bere Mures. The transaction will strengthen Heineken’s number one position in the country, increasing both its market share - to 31% - and its volume to 6 million hectolitres.
The acquisition price has not been disclosed and the transaction will be funded from existing cash resources. It will be earnings enhancing in 2009 and value enhancing in 2012. The proposed acquisition is subject to approval by the Romanian competition authority.
The brewer, established in 1992, is situated in Targu Mures in the Transylvania region, 300 km north-west of Bucharest and employs 394 staff. The business is profitable with 2007 sales volumes of 1.2 million hectoliters and a production capacity of 1.6 million hectolitres.
Bere Mures has a beer portfolio which includes Neumarkt, one of the country’s leading beers, and the smaller Dracula and Sovata brands. All brands are available in one-way PET packaging.
The company also owns two profitable mineral water brands, Cezara sparkling mineral water and Cheile Cibului still water.
Nico Nusmeier, Regional President, Heineken Central and Eastern Europe, commented: “This transaction enables us to consolidate our leading position in Romania. It creates a stronger, more diversified portfolio of leading brands and an excellent platform on which to build further value and growth”.
Heineken currently owns 4 breweries in Romania: in Constanta, Craiova, Hateg and Miercurea Ciuc. The brand portfolio consists of Heineken, Ciuc, Golden Brau, Bucegi, Gösser and a limited number of regional brands. Heineken Romania has a market share of approximately 26%.
In 2007, the size of the Romanian beer market was approximately 19 million hectolitres with a per capita consumption of 89 litres. In 2008 the beer market is expected to continue to grow.
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