SAB Miller has further upped its focus on emerging markets via a tie-up with Turkish drinks group Anadolu Efes.
The Peroni brewer takes a 24% stake in Anadolu in return for handing over its Russian and Ukrainian beer businesses.
As well as forming the the second-largest beer business in Russia by value, the deal will see Andalou and SAB Miller work together in the Middle East and the states surrounding Russia.
“Anadolu Efes’s leading position in beer and soft drinks in the Turkish market and an alliance for further growth and acquisitions in the CIS and Middle East are highly attractive,” said SAB Miller boss Graham Mackay.
“The prospects for these markets are excellent. Both companies have proved to be successful operators in diverse and challenging emerging beer markets and this strategic alliance will allow our groups to benefit from each other’s expertise.”
The news comes after Diageo today unveiled first-quarter growth buoyed by its acquisition of Turkish spirits brand Mey Icki.
Meanwhile, SAB Miller has announced a 6% rise in group revenues for the first half of the year. Beer volumes in Europe were flat over the period, despite what the company called a “positive performance” in the UK.
Flying first quarter for Diageo (19 October 2011)
SAB Miller wins out in battle to buy Foster’s (21 September 2011)
Latest deal grows China exposure for SAB Miller (2 August 2011)