FDBusiness.com

Heineken Divests Finish Brewery For €470 Million to Unibrew

 Breaking News
  • HKScan Strengthens its Meals Offering With Investment in Estonia HKScan, the leading Nordic food company, plans to invest in its Rakvere unit in Estonia. The €8 million investment will go towards modernising the unit’s frying department, including the expansion of the building and the installation of new cooking and packaging lines enabling implementation of new technologies and packaging solutions. Construction is to commence in [...]...
  • Food and Drink is at the Heart of the UK’s Largest Packaging Show Packaging Innovations, Empack and Label&Print returns to Birmingham’s NEC on 28 February-1 March 2018, and is set to be the most innovative show to date. With over 290 exhibitors already signed up, the UK’s largest annual event for the entire packaging supply chain will feature the latest industry innovations and technologies, alongside a major free-to-attend [...]...
  • AGRO Merchants Group Acquires Grocontinental AGRO Merchants Group, a global leader in cold storage and logistics solutions, announced today the acquisition of UK-based Grocontinental Limited. This transaction reinforces AGRO’s position as the leading cold storage and logistics provider in the United Kingdom and Ireland, deepens its commodity expertise, and substantially enhances its value-added service offerings for customers. David Grocott and Linda Grocott, third generation owners of [...]...
  • Trade Fair and More – The Event and Congress Programme For Anuga FoodTec 2018 Resource efficiency will be the primary focus of Anuga FoodTec 2018, the leading international supplier fair for the food and beverage industry, which will be held in Cologne, Germany from 20 to 23 March 2018. Around 1,700 suppliers from more than 50 countries will be presenting their new products for the production and packing of [...]...
  • TINE to Invest €77 Million in New Jarlsberg Plant in Ireland TINE, Norway’s largest farmer-owned dairy co-operative, is to invest €77 million in a dairy with the capacity to produce 20,000 tonnes of Jarlsberg cheese a year. The goal is to secure and strengthen Jarlsberg sales outside of Norway as export supports are phased out in 2020. This will make export of Jarlsberg from Norway unprofitable. “Jarlsberg [...]...

Heineken Divests Finish Brewery For €470 Million to Unibrew

Heineken Divests Finish Brewery For €470 Million to Unibrew
July 12
11:32 2013

Heineken is selling its Finnish multi-beverage business Oy Hartwall for €470 million to Danish Royal Unibrew. The transaction is expected to close in the fourth quarter of 2013 at the latest and is subject to customary closing conditions, including anti-trust approvals.

Heineken and Royal Unibrew have also agreed on the principles of extending their existing partnership to the effect that, for the next ten years, Royal Unibrew will obtain a license to brew Heineken beer for Finland, Estonia, Latvia and Lithuania. At the moment Royal Unibrew already brews the Heineken brand in Denmark and distributes the brand in the Baltic countries. In addition, Hartwall will remain the exclusive distributor of Heineken’s global and international brands in Finland, including Sol, Strongbow, Newcastle Brown Ale, Krušovice and Murphy’s Irish Stout, and will continue to brew Foster’s beer under license in the country.

Jean-François van Boxmeer (pictured), chairman and chief executive of Heineken, comments: “We are convinced that Hartwall’s future development is best served as part of Royal Unibrew, our long-time business partner in Denmark and an important beverage company in the Nordics and Baltics region. We look forward to building on our business in the region working together with Royal Unibrew.”

Henrik Brandt, chief executive of Royal Unibrew, says: “We really value Hartwall’s market position, strong brands and considerable innovation, and the acquisition of Hartwall supports Royal Unibrew’s strategy very well. Hartwall and the Finnish market are in many ways similar to our Danish operations, and we are confident that, as a long-term focused owner and in close partnership with the company’s management and employees, we will be able to increase Hartwall’s commercial and operational strength and thus improve earnings.”

Heineken will use the proceeds of the Hartwall divestiture to reduce its financial leverage, whereby the company is targeting a Net Debt/EBITDA (beia) ratio of below 2.5 times by the end of 2014. Heineken acquired Hartwall as part of the Scottish & Newcastle transaction in 2008.

Royal Unibrew operates as a leading regional player in a number of markets in Western and Eastern Europe, including Denmark, Germany, Italy, Lithuania and Latvia. Royal Unibrew’s main brands include Royal, Ceres Strong Ale, Cido, Kalnapilis, Faxe Premium and Vitamalt. In 2012, the company posted revenue of DKr3.4 billion (Eur455 million) and sold 5.4 million hectolitres of beer, malt and soft drinks. The group, which is based in Faxe, Denmark, has around 1,600 employees.

About Author

mike

mike

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • January 8, 2018RAI Exhibition
  • January 16, 2018Sival Plant Production Trade Show
  • January 17, 2018Dutch Organic Trade Fair
  • January 17, 2018Anfas Food Product
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber





Subscribe Here



Advertisements