Czech Cola Maker of Kofola Buys Brewer Pivovary CZ Group

By: Trademagazin editor Date: 2023. 11. 30. 09:42

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Czech soft drinks maker Kofola CeskoSlovensko will expand into the beer business with the acquisition of Pivovary CZ Group, the country’s fifth largest brewer, the companies announced.

Kofola, which sells water, juice and cola drinks around central and eastern Europe, said the acquisition would enable growth in a stable segment with export potential.

The deal, subject to regulatory approval, should close early next year.

Pivovary CZ produces the Holba, Zubr and Litovel brands and has an annual production capacity of 800,000 hectolitres, a third of which is exported.

Kofola said two minority shareholders – RSJ and USOVSKO – would hold a combined 49% in the brewery group.

Financial details of the transaction were not released.

Shares in Kofola, which have risen by more than 13% in the past year, were suspended before trading on Wednesday (22 November), pending announcements.

ESM