The newly appointed head of Diageo’s African Regional markets, Ekwunife Okoli will oversee the conclusion the transaction for
Ethiopian Meta Abo Breweries.
The company may launch other products into the Ethiopian market after finalizing its takeover of Meta Aba said Okoli.
Diageo wishes to increase its market share in Africa. To this end the company is expected to establish a distributing center in Angola for Guinness beer. Diageo also wishes to introduce its beverages to Botswana and Mozambique.It is to be remembered that Diageo bought Meta Abo, a state-owned brewery for 225 million dollars.
Late in August the Ethiopian government had floated an auction for Meta Abo Brewery weeks after Bedele and Harar breweries were sold to Heineken. British, Dutch and South African breweries had also placed bids for the Meta Abo Brewery.
The board of PPESA, chaired by Aster Mamo, government whip accepted the offer made by Diageo as the highest bid at the public auction.
Diageo is the world's largest producer of spirits and a major producer of beer and wine. Its brands include Smirnoff (vodka), Johnnie Walker (scotch whisky), José Cuervo (tequila), Baileys (liqueur) and Guinness (stout).
Source: Bloomberg
