Russia: EBI signs licence agreement to brew and sell Bavaria products in Russia
Efes Breweries International N.V. (“EBI” or “the Company”), our Holland based 70% subsidiary, today announced that its operating subsidiary in Russia, Moscow Efes Brewery (“MEB”), will brew, market and sell “Bavaria Premium”, a premium segment beer, and “Bavaria Malt”, a non-alcoholic beer, in Russia under licence from Bavaria N.V. effective April 26th, 2006.
“Bavaria Premium” had 3.6% volume share in the Russian premium segment, the fastest growing segment of the Russian beer market, as of December 2005 (AC Nielsen Research). “Bavaria Premium” will be sold in 50 cl and 30 cl bottles , 33cl cans and 30 lt kegs.
Under the license agreement, MEB will also produce and sell “Bavaria Malt”. Bavaria Malt, will be available in 50 cl and 33 cl bottles and 33 cl cans.
Bavaria is the second largest brewer in Holland with an annual production of 5 million hectoliters, and products sold in more than 100 countries.
Mr. Ahmet Boyacıoğlu, CEO of EBI, said “We continue to expand our product portfolio in line with our strategy to further solidify our competitive positions in our operating territories. Introducing “Bavaria Premium” to the dynamically growing Russian beer market will enable us to offer a wider and stronger international brand portfolio.”
“Bavaria has very ambitious plans for Russia” commented Mr. Frank Swinkels Jr, Member of the Board of Directors of Bavaria N.V..” We know for sure that we will fulfil these plans together with EBI in Russia, having witnessed the growth and development of EBI’s business in the last 5 years.”
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