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EBRD invests in leading Lithuanian brewery
Continuing its support of strong successful businesses in Lithuania, the European Bank for Reconstruction and Development (EBRD) is committing US$ 9.6 million (EUR 9.2 million) for a 19.9 per cent equity stake in Svyturys, the leading brewery in Lithuania. The investment is being made alongside two longstanding EBRD partners, Carlsberg and the Investment Fund for Central and Eastern Europe (IØ), both based in Denmark.
"The EBRD is attracted to Svyturys by its strong market position in Lithuania and its good profitability," said Hans Christian Jacobsen, Director of the EBRD’s Agribusiness team. "By implementing an enhanced sales, marketing and distribution structure as well as strengthening the management team, the company will be able to maintain its domestic leadership position. The EBRD is very pleased to continue its recent focus on the Baltic region’s food and beverage sectors via this investment in Svyturys. Following on the heels of our investment agreement with Lithuanian cheese-maker Rokiskio Suris, our interest in supporting successful businesses in this region should now be clear."
He continued: "We are also very pleased to continue working with Carlsberg. This is the fourth project in eastern Europe where we are working as partners."
"Carlsberg has been satisfied with our continuing partnership with the EBRD. We are very much looking forward to this project and we feel confident that the investment in the Svyturys brewery will live up to the expectations of Carlsberg and the EBRD," said Carlsberg's Nils Smedegaard Andersen, Group Managing Director, International.
Svyturys is the market leader in Lithuania with annual sales of 350,000 hectolitres and a market share of 26 per cent. The company sells high-quality beer under the Baltijos brand name. The brewery was founded in 1784 and is situated on the Baltic Sea coast town of Klaipeda.
Carlsberg is a major international brewing group with beer sales in over 150 markets. The group has 20,500 employees and had an annual turnover of DKK 29 billion (EUR 3.9 billion) in 1998. The total volume of beer sold was 35.3 million hectolitres in 1998 and the international activities include local brewing at 72 production sites in 40 countries.
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