Africa: Diageo completes US$60m brewery acquisition

26 October, 2010

East African Breweries Limited (EABL), a subsidiary of Diageo, has completed the acquisition of 51% of the issued share capital of Serengeti Breweries Limited (SBL). EABL made the purchase from existing shareholders for a total consideration of approximately US$60.4million.

SBL is a major brewer and distributor of beverages in Tanzania and produces a portfolio of beer and non-alcoholic products, including its flagship premium Serengeti lager. The combined EABL / SBL portfolio accounts for approximately 28% of the Tanzanian branded beer sector.

The statement concluded: “SBL will form an integral part of EABL’s East African supply footprint providing additional capacity to Kenya and Uganda.”