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SABMiller Buys Maheu Beverage Portfolio In Zambia For $19.25M

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SABMiller PLC, a holding company, which has brewing and beverage interests across six continents, said Tuesday that SABMiller Africa’s Heinrich’s Syndicate Limited, has entered into an agreement with Trade Kings Limited to acquire its Maheu business for a total cash consideration of $19.25 million.

MAIN FACTS:

-The transaction includes the purchase of the Maheu brand ‘Super Maheu No.1’ which is a non-alcoholic maize drink available in a variety of flavours.

-Completion of the acquisition is subject to certain customary conditions precedent including approval from the Zambia Competition Commission which was received last month.

-It is anticipated that completion of the acquisition will take place in the next two months.

-SABMiller Africa intends to grow the Maheu business throughout Zambia and across a variety of African markets, resulting in both increased sales volumes and further employment opportunities.

-Following the completion of the transaction, SABMiller Africa will continue to employ the existing Trade Kings staff engaged in the production of Maheu.

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Friday, September 22, 10:40 pm

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