RNS Number : 6940W
24 November 2010
24 November 2010
SABMiller announces entry into Argentinian market
SABMiller plc announces that it has acquired Cervecería Argentina S.A. Isenbeck ("CASA Isenbeck"), the third largest brewer in Argentina, from the Warsteiner Group.
CASA Isenbeck's principal brands are Isenbeck and Warsteiner, with total sales volumes in 2009 of approximately 600,000hl. Its brewery is located in Zarate, near Buenos Aires, and has a total capacity of 1.2 million hl. CASA Isenbeck will continue to produce and distribute the Warsteiner brand under a long-term licence agreement.
CASA Isenbeck has gross assets of US$24.7million.
Barry Smith, President, SABMiller Latin America, commented:
"We are pleased to have added CASA Isenbeck to our Latin American footprint, giving us exposure to the fast-growing and attractive Argentinian beer market and complementing our existing Latin American operations."
SABMiller plc 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 Pilsner Urquell, Peroni Nastro Azzurro, Miller Genuine Draft and Grolsch, as well as leading local brands such as Aguila, Castle, Miller Lite, Snow and Tyskie. SABMiller is also one of the world's largest bottlers of Coca-Cola products.
In the year ended 31 March 2010, the group reported US$3,803 million adjusted pre-tax profit and group revenue of US$26,350 million. SABMiller plc is listed on the London and Johannesburg stock exchanges.
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