Denver, Colo. and Montreal – Canada’s oldest brewer has acquired StarBev L.P., a brewing group based in Europe.
Molson Coors Brewing Company made the announcement today.
StarBev is based in Amsterdam, The Netherlands, and Prague, Czech Republic. The company has more than 4,000 employees and brewing operations in the Czech Republic, Hungary, Bulgaria, Romania, Croatia, Serbia, Montenegro, Bosnia-Herzegovina and Slovakia.
In 2011, StarBev had sales of US$1 billion and EBITDA of $322 million. Molson Coors says the purchase price represents a multiple of approximately 11x EBITDA.
“StarBev is a strong brewing operation with great brands, talented management and employees who will benefit from being part of a global, brand-led brewing company that can bring additional innovation and marketing expertise to its operations,” says Peter Swinburn, president and CEO of Molson Coors. “We have very exciting plans for growing this business and its brands.”
StarBev brews 13.3 million hectoliters annually and holds a top-three market share position in each of its markets.
Starbev’s portfolio of more than 20 brands includes Borsodi, Kamenitza, Bergenbier, Ozusko, Jelen and Niksicko and also distributes brands such as Stella Artois, Beck’s, Hoegaarden, Lowenbrau and Leffe under license.
Staropramen, the original Czech lager and StarBev’s flagship brand, is available in more than 30 countries worldwide.