Scottish & Newcastle has agreed to acquire 21.5% of the shares of Mythos SA from its joint venture partner Boutari Holdings for E4.8m.
The deal also includes an ‘earn-out’ element of up to E3.6m based on the subsequent net sales growth of the Mythos business.
Mythos breweries operates nationally in Greece and had a market share in 2003 of 11%.
Commenting on the agreement, John Nicholson chairman of the S&N Greater European business said: “This increase in our stake in the Mythos business reflects out long term commitment to the Greek market. Our aim is to further establish our position as a strong number two in the market built around the Mythos brand, and S&N’s international portfolio.”
The deal also includes an ‘earn-out’ element of up to E3.6m based on the subsequent net sales growth of the Mythos business.
Mythos breweries operates nationally in Greece and had a market share in 2003 of 11%.
Commenting on the agreement, John Nicholson chairman of the S&N Greater European business said: “This increase in our stake in the Mythos business reflects out long term commitment to the Greek market. Our aim is to further establish our position as a strong number two in the market built around the Mythos brand, and S&N’s international portfolio.”
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