Carlsberg, the Danish brewery, on Tuesday announced it will significantly strengthen its position in Greece through its merger with Olympic Brewery, the third largest player in the Greek beer market.
Carlsberg will own 51 pct of the new company which will be formed after the merger, while Olympic Brewery’s current shareholders will own 49 pct of the company.
“The company that will emerge from the merger will be the second largest player in the Greek beer market, with a market share of around 29 pct.The combination of Olympic Brewery’s strong brand Fix with Carlsberg group’s Mythos brand and our international quality product will create a very strong range of products, making the new company very attractive to Greek retailers and wholesalers. Additionally, the combination of our companies will lead to synergies in sectors such as supplies, production and distribution,” Carlsberg said in a statement.
Chairman of the new Hellenic Brewery will be Lars Lehman while Alexandros Karafyllidis will be appointed as chief executive.