Molson Coors Agrees to Buy Brewer StarBev for $3.5 Billion |
| San Francisco Chronicle - Apr 3, 2012 |
Molson Coors Brewing Co., the U.S. maker of Carling lager, agreed to buy StarBev LP for 2.65 billion euros ($3.54 billion) to add beer brands such as Staropramen and provide a route into central and eastern Europe.
The acquisition from private-equity firm CVC Capital Partners Ltd. and StarBev management will help Denver-based Molson Coors expand outside its main regions of North America and the U.K., where high unemployment and aggressive competition are weighing on growth. StarBev operates nine breweries in Central and Eastern European countries including the Czech Republic, Hungary, Romania and Bulgaria.
"Molson Coors's portfolio has had an extremely mature- market focus," said Melissa Earlam, an analyst at UBS AG in London. "Relative to their peers, they're very underrepresented in emerging markets."
Molson Coors rose 0.9 percent to $45.66 yesterday, giving the company a market value of $8.2 billion.
Read more: http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2012/04/03/bloomberg_articlesM1WEQM6S972801-M1WNO.DTL#ixzz1qzmngFbS
Read Full Article from San Francisco Chronicle
- Posted: 2012-04-03 11:13:59
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