Heineken Acquires Rodic Brewery in Serbia
The company was established in 2003 and employs 282 staff. The Rodic Brewery facility 1.5 million hectolitre brewery, located in Novi Sad, northern Serbia. The company's portfolio consists of the beer brands MB Premium, MB Pils and Master.
The acquisition is subject to the necessary regulatory approvals. The acquisition price is not disclosed. The transaction will be funded from existing cash resources and will be earnings enhancing in 2010 and value enhancing in 2011.
The company was established in 2003 and employs 282 staff. The Rodic Brewery facility is a state-of-the-art, 1.5 million hectolitre brewery, located in Novi Sad, northern Serbia. The company's portfolio consists of the beer brands MB Premium, MB Pils and Master. It is estimated that total 2007 sales volume will be 500,000 hectolitres.
Nico Nusmeier, Regional President Central and Eastern Europe, Heineken N.V., commented: "This transaction further expands our leadership position across the fast growing Central and Eastern European region. The domestic and emerging export business of Rodic will make us the number 3 player in the Serbian market and with the modern facilities and brand portfolio we are well positioned to build a strong platform for the Heineken brand as well as an increasingly profitable business."
In 2007, it is estimated that the Serbian beer market will grow between 3-5%. The market's estimated total annual consumption in 2006 was 5.6 million hectolitres. Per capita consumption was 52 litres in 2006.
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