RNS Number : 6807Y
08 September 2009
8 September 2009
SABMiller Africa announces acquisition of Maheu beverage portfolio in Zambia
SABMiller Africa announces that its operating subsidiary in Zambia, Heinrich's Syndicate Limited, has entered into an agreement with Trade Kings Limited to acquire its Maheu business for a total cash consideration of approximately US$19.25 million. The transaction includes the purchase of the Maheu brand 'Super Maheu No.1' which is a non-alcoholic maize drink available in a variety of flavours.
Completion of the acquisition is subject to certain customary conditions precedent including approval from the Zambia Competition Commission which was received last month. It is anticipated that completion of the acquisition will take place in the next two months.
Within Zambia, SABMiller Africa already owns Zambian Breweries Group, the largest clear beer and soft drinks business in the country and 70% of National Breweries Plc which is listed on the Lusaka Stock Exchange (LuSE) and commands a substantial amount of the opaque beer market.
The acquisition seeks to further strengthen SABMiller Africa's objective of expanding the price range of both its alcoholic and non-alcoholic brand portfolios across the continent.
SABMiller Africa intends to grow the Maheu business throughout Zambia and across a variety of African markets, resulting in both increased sales volumes and further employment opportunities.
Following the completion of the transaction, SABMiller Africa will continue to employ the existing Trade Kings staff engaged in the production of Maheu.
Notes to editors:
About SABMiller plc
SABMiller is one of the world's largest brewers with brewing interests and distribution agreements across six continents. The group's wide portfolio of brands includes premium international beers such as Grolsch, Miller Genuine Draft, Peroni Nastro Azzurro and Pilsner Urquell, as well as market-leading local brands such as Aguila, Castle, Miller Lite, Snow and Tyskie. SABMiller is also one of the largest bottlers of Coca-Cola products in the world.
In the year ended 31 March 2009, the group reported US$3,405 million in adjusted pre-tax profit and group revenue of US$25,302 million. SABMiller is listed on the London and Johannesburg stock exchanges.
This announcement is available on the company website: www.sabmiller.com
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Mr Jonathan Oates
Business Media Relations Manager
+44 207 659 0144
This announcement does not constitute an offer to sell or issue or the solicitation of an offer to buy or acquire securities of SABMiller plc (the 'Company') or any of its affiliates in any jurisdiction or an inducement to enter into investment activity.
This announcement includes 'forward-looking statements'. These statements may contain the words 'anticipate', 'believe', 'intend', 'estimate', 'expect' and words of similar meaning. All statements other than statements of historical facts included in this announcement, including, without limitation, those regarding the Company's financial position, business strategy, plans and objectives of management for future operations (including development plans and objectives relating to the Company's products and services) are forward-looking statements. These forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. These forward-looking statements are based on numerous assumptions regarding the Company's present and future business strategies and the environment in which the Company will operate in the future. These forward-looking statements speak only as at the date of this announcement. The Company expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained in this announcement to reflect any change in the Company's expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based. Any information contained in this announcement on the price at which the Company's securities have been bought or sold in the past, or on the yield on such securities, should not be relied upon as a guide to future performance.
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