| Tue 4 Feb 2003, 15:04 | | SABMILLER ACQUISITION IN POLAND |
|
London and Johannesburg, 4th February 2003. SABMiller plc (SABMiller), today
announced that its Polish subsidiary, Kompania Piwowarska S.A. (KP), has agreed
to acquire a 98.8% equity interest in Browar Dojlidy Sp. z o.o. (Dojlidy) and an
outstanding shareholder loan from Radeberger Gruppe AG for a cash consideration
of Euro35.15 million (approximately US$37.89 million). The acquisition is
conditional upon the satisfactory completion of a due diligence review by KP and
the approval of the Polish Office for Protection of Competition and Consumers
and the Ministry of Interior.
Graham Mackay, Chief Executive of SABMiller said: "This acquisition, which
further consolidates our operations in Poland, gives us the opportunity to grow
Dojlidy`s core brands across our existing distribution platform. It builds on
our strategy of optimising and expanding our established positions in developing
markets and we anticipate additional benefits, such as procurement and
distribution synergies, from integrating the business into KP.``
Dojlidy has one brewery, located in Bialystok in the north east of Poland, some
200 kilometres from Warsaw. The company currently has an annual capacity of
some 900,000 hectolitres and annual sales of 734,000 hectolitres. Dojlidy will
become KP`s third brewery in Poland, joining its other breweries in Poznan and
Tyskie.
Dojlidy`s main brands are Zubr, Classic and Zlote, which have a strong presence
in its home region. Dojlidy will give KP improved access to consumers in the
north and east of Poland and will enhance KP`s brand portfolio in the economy
segment.
ENDS
Notes to editors
SABMiller is the world`s second largest brewer by volume with pro forma 2001/02
lager volumes in excess of 120 million hectolitres and is also the world`s
leading brewer in developing markets. It has 115 brewing operations and over
69,000 employees, in 24 countries across Africa, Central and Eastern Europe,
North and Central America and Asia. It has a portfolio of strong brands and
leading market shares in many of the countries in which it has brewing
operations. Outside the USA, SABMiller is one of the largest bottlers of Coca-
Cola products in the world.
SABMiller is listed on the London and Johannesburg stock exchanges and has a
market capitalisation of approximately US$6.5 billion (R55.2 billion).
SABMiller entered Poland in 1996 buying an initial 27.5% stake in Lech Browary
Wielkopolski (Lech) from the Polish company Euro Agro Centrum (EAC). In October
1996, SABMiller together with EAC, acquired 52% of Browary Tyskie Gorny Slask SA
(Tyskie). Between 1996 and 1999, SABMiller increased its effective interest in
both companies through capitalisations and acquisitions of additional
shareholdings from EAC and other smaller shareholders. In 1999, Lech and Tyskie
were merged into a single entity consisting of two operating breweries and a
combined distribution system for the Lech and Tyskie brands forming Kompania
Piwowarska SA (KP). Currently, SABMiller has an effective 72% interest in KP.
KP`s output in the year ended 31 March 2002 in Poland was 7.6 million
hectolitres, being approximately 31% of the total market.
Further information
Nick Chaloner
Director of Communications, +44 (0) 20 7659 0119
SABMiller plc Mobile: +44 (0) 7880 502 755
Anna Miller Salzman
Head of Investor Relations, +44 (0) 20 7659 0106
SABMiller plc Mobile: +44 (0) 7973 837 070
Ciaran Baker
Head of Corporate Communications, +44 (0) 20 7659 0120
SABMiller plc Mobile: +44 (0) 7979 954 493
This announcement is available on the company website, www.sabmiller.com
Date: 04/02/2003 02:29:27 PM Produced by the JSE SENS Department
