SABMiller Boosts Presence In Namibia, Zambia
MILWAUKEE (AP) ¿ Brewer SABMiller PLC is broadening its business in Africa, including expanding operations in Namibia and buying a beverage portfolio in Zambia.
The London-based brewer of drinks like Miller Lite and Pilsner Urquell said the Namibian government has awarded it a brewing license, something it has sought for more than a decade.
The company has been importing beer into Namibia for more than 20 years and has about 22 percent of the market with brands like Castle Lager and Peroni Nastro Azzurro.
With the license, SABmiller said it will now build a plant there.The company also announced that its subsidiary in Zambia will buy the Maheu business from Trade Kings Limited for $19.25 million in cash. The deal includes the brand Super Maheu No. 1, a non-alcholic maize drink available in a variety of flavors. SABMiller said it plans to grow that brand across Africa. The company already owns Zambian Brewries Group, the country's largest clear beer and soft drinks business. It also owns 70 percent of National Breweries PLC, which controls a large amount of the opaque beer market. Opaque beer contains sorghum or maize and is thick and generally inexpensive, while clear beer is similar to European brews, costs more and is served chilled. The deal is expected to close in the next two months.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV