Diageo buys Turkish spirits maker for $2.1 billion (Reuters)
LONDON (Reuters) – Diageo Plc, the world's large alcohol maker, weekday united to acquire the Turkic alcohol assemble Mey Icki for 1.3 1000000000 pounds ($2.1 billion) to provide it admittance to this fast-growing emerging market.
The London-based concern of Johnnie Walker alcohol and Smirnoff vodka is buying Turkey's large alcohol consort from investment firms TPG Capital LP and Actera. The care is due to be complete in the ordinal half of 2011.
The Turkic assemble is the country mart leader in raki, the large alcohol collection in Turkey, and has a directive position in vodka, while it also has an extensive broad income and organisation network.
It had gain annual income of 300 meg pounds in 2010 and earnings before interest and tax (EBIT) of 120 meg pounds, and module be earnings accretive for Diageo in the prototypal flooded year of acquisition by around 1 percent.
The nation assemble said the care module allow it to accelerate the ontogeny of its international alcohol brands in Turkey through
Mey Icki's organisation meshwork and client relationships.
"Turkey is an attractive, growing mart for Diageo with brawny GDP growth. The acquisition of Mey Icki tranforms our existing position in this alacritous growing alcohol market," said Diageo Chief Executive Paul Walsh in a statement.
(Reporting by David Jones; Editing by Mark Potter and Erica Billingham)
Source
0 comments:
Post a Comment