Georgia Capital acquires craft beer producer
London, 8 February 2018
Georgia Capital acquires leading Georgian craft beer producer
BGEO Group PLC (the "Group" or "BGEO"), announces that its investment business holding company, JSC Georgia Capital, has acquired a 100% equity stake in a leading Georgian craft beer producer, Black Lion LLC ("Black Lion" or the "Company"). Black Lion is the largest producer of a premium class craft beer in Georgia and operates a brewery with a capacity to produce 3 million litres per year. The Company launched sales in the beginning of 2016 and sold approximately 300,000 litres of craft beer in 2017, primarily targeting restaurants and bars in Tbilisi. The acquisition of Black Lion complements the existing basket of beverage products offered by the Group's beverage business.
Irakli Gilauri, BGEO CEO commented: "I am delighted to announce the successful acquisition of Black Lion. With this acquisition, our beverage business will have a significant presence in the fast-growing craft beer market, with an outstanding product with a high quality, well-recognised brand."
Name of authorised official of issuer responsible for making notification: Giorgi Alpaidze, Group CFO
About BGEO Group PLC
The Group: BGEO Group PLC ("BGEO"- LSE: BGEO LN) is a UK incorporated holding company of a Georgia-focused investment platform. BGEO invests, via its subsidiaries, in the banking and non-banking sectors in Georgia (BGEO and its subsidiaries, together the "Group"). BGEO aims to deliver on its strategy of: (1) at least 20% ROAE from its Banking Business; (2) 15%-20% growth of its Banking Business loan book; (3) at least 25% IRR; and (4) up to 20% of the Group's profit from its Investment Business. On 3 July 2017 BGEO announced its intention to demerge BGEO Group PLC into a London-listed banking business (the "Banking Business") and a London-listed investment business (the "Investment Business") by the end of the first half of 2018.
Banking Business: Currently representing at least 80% of the Group's profit, will comprise: a) retail banking and payment services, b) corporate investment banking and wealth management operations and c) banking operations in Belarus ("BNB"). JSC Bank of Georgia ("BOG" or the "Bank") is the core entity of the Group's Banking Business. The Banking Business will continue to target to benefit from the underpenetrated banking sector in Georgia primarily through its retail banking services.
Investment Business: Currently representing up to 20% of the Group's profit, will comprise the Group's stakes in Georgia Healthcare Group PLC ("Healthcare Business" or "GHG") - an LSE (London Stock Exchange PLC) premium-listed company, Georgia Global Utilities ("Utility and Energy Business" or "GGU"), m2 Real Estate ("Real Estate Business" or "m2"), Teliani Valley ("Beverage Business" or "Teliani") and Aldagi ("Property and Casualty Insurance Business" or Aldagi"). Georgia's fast-growing economy provides opportunities in a number of underdeveloped local markets and the Investment Business will target to capture growth opportunities in the Georgian corporate sector.
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JSC BGEO Group has, as of the date hereof, the following credit ratings: |
Bank of Georgia has, as of the date hereof, the following credit ratings: |
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Fitch Ratings |
'BB-/B' |
Fitch Ratings |
'BB-/B' |
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Moody's |
B1/NP (FC) & B1/NP (LC) |
Moody's |
'Ba3/NP' (FC) & 'Ba2/NP' (LC) |
For further information, please visit www.bgeo.com or contact:
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Irakli Gilauri |
Michael Oliver |
Giorgi Alpaidze |
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Group CEO |
Adviser to the CEO |
Group CFO |
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+995 322 444 109 |
+44 203 178 4034 |
+995 322 444 190 |
This news report is presented for general informational purposes only and should not be construed as an offer to sell or the solicitation of an offer to buy any securities
This information is provided by RNS
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