Molson Coors Brewing Company has signed a definitive agreement with StarBev, owned by funds advised by CVC Capital Partners Limited and StarBev management, to acquire StarBev for 2.65 billion euro.

Headquartered in Amsterdam, Netherlands and Prague, Czech Republic, StarBev operates nine breweries in Central and Eastern Europe (CEE) and generated 2011 sales of nearly €0.7bn and earnings before interest, taxes, depreciation and amortisation (EBITDA) of €241m.

Peter Swinburn, president and CEO of Molson Coors, said: “The acquisition of StarBev fits squarely into Molson Coors’ strategy to increase our portfolio of premium brands and deepen our reach into growth markets around the world.

“The Central and Eastern European beer market is attractive, with strong historical trends and upside potential as the region returns to its pre-​economic-​crisis growth rates.

“As a market leader in the CEE region, StarBev provides Molson Coors with a great platform for growth and an excellent foundation from which to extend our key brands, such as Carling, into Central and Eastern Europe. Staropramen will also enhance our portfolio in some of our current and planned markets.”

Source: www.foodbev.com