Think globally, drink locally!    

  Accueil -> Actualité -> Economie -> Article précédent suivant   imprimer envoyer détacher  
Turkish Brewery Gets Red East Cheap
Efes buys the company with at 50 percent off

The Turkish Efes holding announced the purchase of the second-to-the-last independent presence on the Russian beer market yesterday. It paid brothers Airat and Ilshat Khairullin $390 million for the Krasny Vostok (Red East) brewery.

The price for the brewery came as a surprise, since the brothers had been asking $1 billion for the brewery, and its market price had been estimated at $700 million. Efes acquired 92.34 percent of the stock in the brewery and the deal is now awaiting approval from regulators. State Duma member Airat Khairullin and his brother Ilshat, a member of the Red East board of directors, will retain the remaining 7 percent of the stock.

For it money, Efes is getting two plants, in Kazan and Novosibirsk, and three malt houses. The acquisition will bring the Turkish holding’s beer production in Russia up to 180 million dal. per year, almost 10 percent of the market, and its malt production will rise from 46,000 metric tons to 139 tons per year. The Turkish parent company control 79 percent of the Turkish beer market with annual production of 90 million dal. It also produces beer in Kazakhstan, Serbia and Montenegro, Romania and Moldova.

Its main brands in Russia are Efes, Warsteiner, Stary Melnik and Sokol. A bank, insurance company and chain of retail stores were taken off the breweries book before its sale. That fact was used by a company spokesman in Kazan to explain the surprising low price for the enterprise. However, another company source speculated that the Khairullin brothers would receive unspecified compensation after the deal was completed. The brewery’s market share had fallen from a high of 7 percent several years ago to 2.6 percent at present.

Analysts are saying that the rush on independent players on the market is over. Last year, practically all the companies active on the Russian market were negotiating with Krasny Vostok and Ochakovo, the last independent brewers. But the owners of those companies were demanding too much money for them. Sun Interbrew, the second largest holding on the Russian beer market, quit negotiations for Krasny Vostok and announced plans to build a new plant in Irkutsk. At the same time, SABMiller broke off talks for Krasny Vostok. At Ochakovo, they say that the brewery is not for sale at any price.

Roman Ovchinnikov

Kommersant - 12 August 2006
EU takes Canada to WTO over beer, wine tax
Carlsberg annonce une augmentation de capital de $567 millions
la Sobraga et la DGCC mettent en garde les détaillants contre un abus des prix de boissons
Carlsberg sees recovery
SABMiller Net Drops 24% on Miller Sales Slump, Costs
Réactions positives des analystes pour Duvel
Le brasseur Scottish & Newcastle rejette l’offre d’Heineken et Carlsberg
InBev Pays EU260 Million for Control of Sun Interbrew
Punch buys rival pub firm Spirit
Bendel Brewery owes banks, staff N1.7b
Long time between drinks at Foster’s
Real ale group in a froth as Greene King moves on rival
Heineken to buy Russian beer firm
Budweiser sous pression sur trois fronts
Molson, Coors Try to Sell Merger as Investor Opposition Grows
Heineken Closes In on Vekselberg’s Brewery
SABMiller Mulls Acquisitions to Catch Anheuser-Busch
Coors Executives Will Benefit From Molson Merger
Greene King swallows £250m Scottish brewer
SABMiller unveils ’Harbin synergies’
Baltika to Launch in North Korea
Baltika to Branch Out With Own Water Label
Russian army rescues kegs of beer
Small Brewer in Changing Times
Kvass (boisson russe)
Baltika’s Profits Soar on Record H1 Sales
Russia restricts TV beer ads to curb growing army of child alcoholics
La bière déborde la vodka en Russie
Heineken Closes In on Next Russian Brewery
Heineken va lancer Bud, la marque phare de Anheuser-Bush, en Russie
Foster’s to brew in Turkey
Turkey laps up Foster’s after lifting foreign beer ban
Charia ou raki, la Turquie doit choisir
Kurdish beer brews ethnic ire in Turkey
Bomonti Beer Factory tender to be cancelled
Turkey’s Investors Dismiss Fear Country Will `Mess Up’ EU Bid
Turkey slice for Foster’s
      sommaire | haut de page | à propos | résumé