DBR Staff Writer
Diageo, a UK-based alcoholic beverages company, has acquired Ethiopia-based Meta Abo Brewery Share Company SC for $225m, subject to customary post completion adjustments.
The acquisition of Meta Abo Brewery will give Diageo direct access to the Ethiopian beer market and will complement its existing premium spirits business in Ethiopia.
Diageo Africa president Nick Blazquez said the acquisition represents a key milestone in achieving the company’s strategy of participating at scale in beer and spirits in growth markets in Africa.
Blazquez said the company will invest behind the long-term growth of the brand, the Meta business, and the wider communities in Ethiopia.