AB InBev, Anadolu Efes Finalise Merger In Russia And Ukraine
Brewing giant Anheuser-Busch InBev has completed the merger of its businesses in Russia and Ukraine with Turkish brewer Anadolu Efes.
The 50:50 merger, which was first announced in August 2017, has combined the two companies' operations in these countries under the name AB InBev Efes.
The deal follows AB InBev's acquisition of a 24% stake in Anadolu Efes as part of the company's combination with SABMiiller, which was completed in October 2016.
Financial details of the transaction were not disclosed.
AB InBev, which operates brands such as Budweiser, Corona, and Stella Artois, says that the partnership aims to strengthen the competitive position of both brewers in these markets, enhancing their existing relationship, and increasing the potential for further growth, focusing on both leading international and local brands.
Carlos Brito, CEO of AB InBev, previously described this deal as a "significant step in furthering the strategic partnership" of the two companies.
"We look forward to a successful combination delivering a broader range of beer choices to consumers in both Russia and Ukraine,” he added.
© 2018 European Supermarket Magazine – your source for the latest retail news. Article by Sarah Harford. Click subscribe to sign up to ESM: The European Supermarket Magazine.