Heineken taking over Czech Drinks Union
Dutch brewer Heineken announced on Tuesday it is taking over Czech beer brewer Drinks Union25 March 2008
AMSTERDAM - Dutch brewer Heineken announced on Tuesday it is taking over Czech beer brewer Drinks Union, solidifying Heineken's position as the third largest beer producer in the Czech Republic.
No financial details were released. Heineken announced it expects the takeover to contribute to its own results starting 2009. The transaction will be completed in the second quarter of this year.
Drinks Union owns four breweries in the Czech Republic, producing a total of 900,000 hectolitres of beer per year. The company has 523 employees and a market share of 4 percent.
[Copyright dpa 2008]