1/10/2012 2:40 AM ET
(RTTNews) - Diageo plc (DEO: News ,DGE.L: News ) has closed the acquisition of Meta Abo Brewery Share Company SC or 'Meta Brewery' with the purchase of the entire share capital for $225 million, subject to customary post completion adjustments.
From its brewery near the Ethiopian capital Addis Ababa, Meta Brewery produces and distributes its flagship national lager brands Meta and Meta Premium. The company said this purchase would give Diageo direct access to the Ethiopian beer market and would complement Diageo's existing premium spirits business in the country.
Nick Blazquez, President, Diageo Africa, said: "Meta is a strong national brand that has great heritage in Ethiopia. We will invest behind the sustainable growth of the brand, the business and the wider communities in Ethiopia."
Over the past five years, Diageo has invested over 1.0 billion pounds in building its businesses in Africa.
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by RTT Staff Writer
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