Russia: Heineken could accomplish the second largest takeover in the Russian brewery sector
Russian brewer Ivan Taranov is to be acquired by Heineken for $560 million, Reuters announced on August 16. Heineken has made no comment yet on this issue. Nevertheless, the Russian daily Kommersant, quoting sources at both companies, said the two firm s planned to sign a deal later on Tuesday.
Moscow-based Taranov, Russia's seventh-biggest brewer, has three breweries spread across Russia and nationwide beer distribution. It made earnings before interest, tax, depreciation and amortisation (EBITDA) of $30 million in 2004 and analysts forecast that it will post EBITDA of $40 million in 2005. Its brewing capacity is of 4.5 million hectolitres a year .
Taranov is the brewer of Pit and Three Bears beers. Its beer brands include Konigsberg and Doctor Diesel, and it also brews licensed brands such as Bavaria, Gossen and Coors, to give it a 4.4 percent share of the Russian beer market by volume and about 4.5 percent by value.
Russia is the world's fifth-biggest beer market after China, the United States, Germany and Brazil, and the top beer makers are racing to expand in the country.
Kommersant stated the deal would help Heineken to catch up with its main foreign competitor in Russia, the world's biggest brewer InBev. If this is confirmed, this would be the second-largest transaction in the Russian brewery industry after InBev's takeover of SUN.
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