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Diageo agrees to sell Meta Abo Brewery in Ethiopia
Diageo has agreed to sell Meta Abo Brewery, its brewery in Sebeta, Ethiopia, to BGI, part of Castel Group.
The sale, which is subject to approval by the Ethiopian Competition Commission, is expected to complete during the first quarter of 2022.
Diageo had said that it will continue to service the Ethiopian market “with its international spirits portfolio through its dedicated imported spirits channel”.
The drinks giant acquired Meta Abo Brewery in January 2012 for US$225m and, since then, has invested US$344m into its expansion with the aim of transforming the brewing industry in Ethiopia and supported local communities through provision of clean water.
Meta Abo brewery was established by the Ethiopian government and Ethiopian private nationals in 1963 as a share company. Initially, the production capacity of the brewery was 50,000hl per annum, however, with Diageo’s investment, which was detailed back in 2015 and saw the company re-launching the Meta brand, it tripled its capacity and installed a US$119m bottling line.
Sale proceeds have not been disclosed.
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