10th Jun 2008 07:00
10th June 2008
SABMiller plc announces expansion in Russia
SABMiller plc ("SABMiller") announces that it has agreed to acquire the Russian brewer LLC Vladpivo ("Vladpivo"). The transaction is subject to customary pre-closing conditions.
Vladpivo, the largest brewer in the Russian far east Primorie region, is located near the city of Vladivostok and has an annual capacity of 1 million hectolitres. The value of the gross assets to be acquired is approximately US$69 million. The purchase price is not being disclosed.
The Russian far east represents approximately 7.6% of the Russian beer market and is projected to grow faster than the total Russian beer market from 2007 to 2013. This acquisition will accelerate SABMiller's growth in the region and increase the geographic penetration of the group's worthmore portfolio.
James Wilson, Managing Director of SABMiller RUS, said: "The acquisition of Vladpivo complements our existing capability and will allow us to expand the presence of our worthmore brands, by providing us with a more competitive logistics configuration and better access to our consumers in this important and attractive region."
Vladpivo will become SABMiller's third production facility in the country, in addition to its main brewery in Kaluga and the site in Ulyanovsk which is currently under construction and expected to be commissioned in early 2009. In advance of production of SABMiller RUS's premium portfolio, the brewery will undergo a substantial programme of investment aimed at achieving SABMiller's international manufacturing standards.
Vladpivo is beneficially owned by a consortium consisting of A1, Detroit Investments and the IFC.
Ends
About SABMiller plc
SABMiller plc is one of the world's largest brewers with brewing interests or distribution agreements in over 60 countries across six continents. The group's brands include premium international beers such as Grolsch, Miller Genuine Draft, Peroni Nastro Azzurro and Pilsner Urquell, as well as an exceptional range of market leading local brands. Outside the USA, SABMiller plc is also one of the largest bottlers of Coca-Cola products in the world.
In the year ended 31 March 2008, the group reported US$3,639 million adjusted pre-tax profit and revenue of US$21,410 million. SABMiller plc is listed on the London and Johannesburg stock exchanges.
This announcement is available on the company website: www.sabmiller.com
High resolution images are available for the media to view and download free of charge from www.sabmiller.com or www.newscast.co.uk
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Enquiries: |
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SABMiller plc |
Tel: +44 20 7659 0100 |
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Sue Clark |
Director of Corporate Affairs |
Tel: +44 20 7659 0184 |
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Gary Leibowitz |
Senior Vice President, Investor Relations |
Tel: +44 20 7659 0174 |
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Jonathan Oates |
Business Media Relations Manager |
Tel: +44 7887 924560 |
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 document 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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