East African Breweries Limited (EABL) has acquired a majority stake in Serengeti Breweries Limited (SBL) of Tanzania.
The Tanzanian Fair Competition Commission (FCC) has approved the acquisition of a majority interest in SBL by EABL subject to certain conditions. In a press statement filed to newsrooms, SBL and EABL said they are fully committed to working with the FCC to satisfy these conditions.
SBL is Tanzania’s second largest brewer and the maker of Premium Serengeti Lager.
“We see this deal as a partnership between EABL and SBL. EABL recognises the great achievements made by the management of SBL in growing the company and its brands. Together we believe that greater growth can be achieved by combining the expertise and strengths of the two businesses, thus delivering greater service for our customers and greater experiences for our consumers in Tanzania and across East Africa more widely,” read the statement.
Following the signing of a distribution agreement between EABL and SBL, Premium Serengeti Lager has already been successfully launched in Uganda.
EABL has an annual turnover of Ksh30 billion (US$374 million) and has the largest share of the beer industry in the region.