Czech Republic: Kofola to acquire majority stake in beer producer Pivovary CZ

Kofola, a Czech-based non-alcoholic beverages company, has announced the acquisition of Pivovary CZ Group, a producer of traditional beer brands such as Holba, Zubr and Litovel.

Pivovary CZ Group is the fifth largest beer company in the Czech Republic with a workforce of almost 500.

With the acquisition, Kofola said it planned to bolster its presence in beers with export potential. Kofola will hold a 51% stake in the company, with the remaining shares split between two investment groups.

Commenting on the news, Kofola CEO Jannis Samaras said: “At Kofola, we have learned to develop traditional and local brands with a strong story. When the opportunity arose to invest in breweries that produce brands with a long history, backed by honest craftsmanship and modern production facilities, we didn’t hesitate. We believe that the experience of our people can help their development”.

Pivovary CZ Group will continue to operate as an independently-managed subsidiary of Kofola.

The deal is expected to be completed early next year subject to regulatory approval. Financial details of the transaction were not disclosed.

Sources: Kofala