SABMiller buys Dutch beer maker Grolsch

SABMiller, the world’s third largest brewer, is to purchase Grolsch for £583 million in a bid to enhance its position in the rapidly growing premium beer market.

SABMiller said it had secured the support of Grolsch’s board. The offer represents an 84% premium over Grolsch’s average closing share price during the last month.

The deal is the latest indication of consolidation in the global brewing industry. The announcement follows the news that Britain’s Scottish and Newcastle rejected a hostile bid from Denmark’s Carlsberg and Dutch group Heineken.

In early trading today, shares in Grolsch were up 77.5% at 47.75 euros. SABMiller shares were down 0.8% at 1,333 pence.

SABMiller is proposing to expand the Grolsch brand across Africa and Latin America, where the premium beer market is still in its early stages and in the more developed markets of central and eastern Europe.

Grolsch chief executive, Ab Pasman, said we look forward to continuing to build our position as a premium brand within the new family.

Grolsch is currently brewed both in Holland and under license overseas and is probably best known for its lager of the same name, which is traditionally packaged in a distinctive bottle that has a swing-topped cap.

SABMiller owns a portfolio of well-known beers, including Italy’s Peroni, the Czech Republic’s Pilsner Urquell, South Africa’s Castle, and US brand Miller Lite.

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