The transaction includes the purchase of the Maheu brand ‘Super Maheu No.1’ – 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’s anticipated that completion of the acquisition will take place in the next two months.
Within Zambia, SABMiller Africa already owns Zambian Breweries Group, the largest clear beer and soft drinks business in the country, and 70% of National Breweries Plc, which is listed on the Lusaka Stock Exchange and commands a substantial amount of the opaque beer market.
The acquisition seeks to strengthen SABMiller Africa’s objective of expanding the price range of its alcoholic and non-alcoholic brand portfolios across the continent.
SABMiller Africa intends to grow the Maheu business throughout Zambia and across a variety of African markets, resulting in 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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