Carls­berg buys ri­val to raise mar­ket share

Kathimerini English - - Focus -

Dan­ish brewer Carls­berg said yes­ter­day it would take a majority stake in Greece’s Olympic Brew­ery, the coun­try’s third­largest player, giv­ing it a mar­ket share of 29 per­cent. “The Greek mar­ket of­fers in­ter­est­ing op­por­tu­ni­ties. We have been very pleased with the per­for­mance of Mythos Brew­ery since we took over the business,” Chief Ex­ec­u­tive Jo­er­gen Buhl Ras­mussen said in a state­ment. The Copen­hagen-based company took over the sec­ond-largest Greek brew­ery, Mythos, as part of its joint ac­qui­si­tion with Heineken of Bri­tain’s Scot­tish and New­cas­tle in 2008. Heineken owns Greece’s largest brewer, Athe­nian Brew­ery, with a mar­ket share of 55 per­cent. “The com­bi­na­tion of Olympic Brew­ery’s strong lo­cal brand, Fix, and the Carls­berg Group’s lo­cal power brand Mythos and our in­ter­na­tional pre­mium port­fo­lio will cre­ate a very strong prod­uct port­fo­lio,” the Dan­ish group said. The new company, which will be 51 per­centowned by Carls­berg, will ben­e­fit from syn­er­gies in “pro­cure­ment, pro­duc­tion and dis­tri­bu­tion,” it said. The value of the trans­ac­tion was not dis­closed by ei­ther side of the deal.

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