Drinks giant Diageo is to spend about $225m buying the 20% of Kenya Breweries Limited (KBL) that it doesn’t currently own.
Diageo’s subsidiary East African Breweries Limited (EABL) has agreed to purchase all of SABMiller Africa BV’s 20% shareholding in KBL. EABL will also sell its 20% stake in SABMiller’s Tanzania Breweries Limited as part of the agreement.
As a result of the moves, KBL is to stop brewing and distributing SABMiller’s brands in Kenya, which include Castle Lager and Peroni, reversing an agreement that dates back to 2002.
Related articles
OpinionDavid Read: The absentee may be about to return
The cost of food and drink at the back door has changed very little for operators since as far back as early 2019. For most of us that feels like a lifetime ago.
- News
Darby steps down from Brains
SA Brain CEO Alistair Darby has stepped down from the company after the completion of a deal that sees Marston’s take over the running of its pubs.
- Opinion
David Read: Is globalisation unravelling?
A few days ago, I was in a hospitality sector zoom conference, when the keynote speaker said: “I genuinely believe we may be witnessing the beginning of the end of globalisation”.
More Suppliers
- Analysis & Insight
Two in five hospitality suppliers to close without Government support
The hospitality sector’s supply chain is facing collapse, placing over 300,000 jobs at risk, without immediate financial support from Government, new research has revealed.
- News
Carlsberg predicts surge in demand
Carlsberg is expecting a surge in demand this summer similar to a boom seen a century ago as more people are vaccinated and lockdowns lift, according to the beer company’s CEO.
- News
Leading operators come together to establish Zero Carbon Forum
Burger King, Brewdog, Nando’s and The Restaurant Group are among leading hospitality operators who have come together to establish the Zero Carbon Forum.
