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03 November, 2014 09:36 AM Source: Lanka Business Online - LBO
beer alcohol.jpg

The Rs. 5.15 billion acquisition of Cargills Ceylon’s Millers Brewery Ltd. by Carson Cumberbatch Group concluded last week giving the latter further dominance.
Carson said it has concluded the acquisition of the trade marks and the entirety of shareholding of Millers Brewery Ltd., (MBL) through its subsidiary companies Lion Brewery Plc and the latter’s subsidiary Pearl Springs Ltd., at a purchase consideration of Rs. 5.15 billion.
All liabilities of MBL were fully settled by the previous management prior to the completion of the acquisition. The deal was first announced in June 2014.
Carson said with the acquisition of the trade marks, Lion Brewery has now consolidated the MBL portfolio of brands into Lion’s portfolio and will soon commence the brewing of Sando Power, Irish Dark, Sando Stout, Three Coins Lager and Grande Blonde at its production facility in Biyagama. Pending a detailed evaluation, operations at the MBL brewery in Meegoda will cease temporarily.
“The acquisition of MBL affords Lion Brewery the opportunity of taking advantage of supply chain synergies whilst ensuring that loyal consumers of the MBL portfolio continues to have access to their brands of choice,” Carson said.
As per industry sources, even prior to the acquisition, Lion commanded over 90% market share whilst post acquisition it will also return to the shelves of Cargill’s supermarket which has licence to sell soft liquor.
Cargills entered the soft alcohol industry in 2011 with the acquisition of the renowned McCallum Brewery Ltd. through fully-owned subsidiary MBL.

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